Investments in Kazakh economy seen a 8.2% growth within 10 months

Over 10 months of 2019, Kazakhstan’s GDP growth has accelerated to 4.4%, Ruslan Dalenov, Kazakh national economy minister, has told a government session today, Strategy2050.kz reports.

“The factors that have contributed to the economic growth include steady investment activity, the increased share of SME in the GDP and domestic demand, the double-digit growth in industrial sub-sectors, as well as the restoration of oil production,” the minister said.

According to him the industrial production has been growing steadily, resulting in a 3.5% increase between January and October. The manufacturing industry has grown by 3.3%, which is largely due to the continued pace in the main processing industries.

“The light industry has been witnessing an increase of 18.9%, engineering – an 18.8% increase, pharmaceuticals – a 15.2% increase and beverage production - a 13.9% increase,” the head of the department said.

He pointed out that a pool of investment projects by sectors has been formed.

“This will allow for sustainable and high-quality economic growth in the medium term. Investments has grown by 8.2%, real incomes of the population have increased by 6.4%, SMEs now account for 28.5% of the GDP,” he said.

The minister went on to say that the growth in mining has accelerated to 3.7% and high growth rates of 18.0% remain in the extraction of non-ferrous metal.