Kazakh economy grew by 4.4% within 11 months

At a government meeting, chaired by Prime Minister Askar Mamin, the outcomes of the country's socio-economic development and the implementation of the republican budget for January-November 2019 have been considered, primeminister.kz informs.

Minister of National Economy Ruslan Dalenov, Chairman of the National Bank Yerbolat Dossayev and First Deputy Prime Minister and Minister of Finance Alikhan Smailov reported on the state of the economy, the banking sector, the implementation of the republican budget, and local content in government procurement.

The economy of Kazakhstan showed a stable growth trend in January-November 2019, GDP growth amounted to 4.4% compared to the corresponding period last year. Positive dynamics were observed in construction - 12.1%, trade - 7.5%, transport - 5.6%, manufacturing sector, including engineering - 19.2%, automotive - 64%, light industry - 16.6 %, non-ferrous metal production - 6.8%, coke and oil products - 5.3%, metal ore production - 15.7%, communication services - 4.7%, industry - 3.6%. The assets of the National Fund increased by 4.3% to $60.5 billion, revenues to the republican budget - 9595.7 billion tenge (100.2% of the plan), the growth rate was 117.6%.

“Elbasy Nursultan Nazarbayev and Head of State Kassym-Jomart Tokayev set us the task of ensuring stable economic growth,” Askar Mamin said.

The Prime Minister instructed the heads of branch ministries and regions to take all necessary measures to bring indicators to planned values.

The Head of Government positively marked the work of the Governor’s Offices of Aktobe, Zhambyl, Eastern Kazakhstan, Karaganda and Turkestan Regions, which have experienced high growth in the economy over the 11 months of this year, while the ones falling short were directed to take appropriate measures to correct the situation with problematic indicators.

Governors and heads of state bodies have been heard who fell short in utilising the budget funds.

“On the revenue side of the budget, the current year plan has been overfulfilled. However, a number of administrators failed to utilise the budget funds,” Askar Mamin said.

The Head of Government instructed the administrators of budget programs to take measures to the full utilisation of allocated budget funds by the end of the fiscal year (December 20, 2012).

Image credit: primeminister.kz