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  • Kazakh economy grew by 4.4% within 11 months
13 December, 2019 10:34

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.

Kazakh economy grew by 4.4% within 11 months | Strategy2050.kz

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

chronicle 2050

SMEs will make up at least 50% of the GDP

abour productivity will reach up to $126 000 and 3 to 6 y.o. kids will have 100% access to pre-school education in Kazakhstan.

Kazakhstan will fully satisfy its own market of POL in compliance with the new environmental standards

The share of non-primary exports in total exports will double and triple by 2040

Transition to Latin graphics will commence

95% of the population will speak Kazakh

15% of the area under cultivation will make use of water-saving technologies.

The issue of providing water for irrigation will be resolve

GDP per capita will stand at $60 000

The urban population will represent 70% of the total population in Kazakhstan