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  • Investments in Kazakh economy seen a 8.2% growth within 10 months
12 November, 2019 11:44

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.

Investments in Kazakh economy seen a 8.2% growth within 10 months | Strategy2050.kz

“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.

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