Kazakhstan’s economy continues to demonstrate steady growth. In the first half of the year, the country’s GDP increased by 4.1%, while growth in the real sector accelerated to 5.1%. According to the Ministry of National Economy, the non-oil sector played a significant role in this performance. The main growth drivers were manufacturing, construction, transport, trade, and agriculture. Deputy Prime Minister and Minister of National Economy Serik Zhumangarin presented a report on the country’s socio-economic development at a Government meeting. According to him, investment activity remains strong. From January to June, fixed capital investment grew by almost 10%, while private investment increased by more than 21%. The Government also noted growth in agricultural exports. In the first four months of the year, Kazakhstan exported $3 billion worth of agricultural products, up 36% from the same period last year. The number of businesses is also increasing, while budget revenues continue to grow. By the end of the year, the Government expects the economy to grow by at least 5%.
«The proactive economic growth policy is continuing.
As part of a one trillion tenge support package for priority sectors, 398
billion tenge has been allocated from the state budget to Baiterek Holding. The
holding has financed projects worth 5.1 trillion tenge. In addition, the
Ministry of National Economy has prepared 10 comprehensive analyses of all
major commodity sectors. Based on these analyses, a pool of 231 promising
projects has been established in metallurgy, petrochemicals, the coal chemical
industry, and the agro-industrial sector. As a result of the work carried out
since March, 40 international companies have already expressed interest,» Zhumangarin said.
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