Government Reports Steady Economic Growth
The economy of Kazakhstan has successfully adapted to external conditions and has entered a trajectory of sustainable growth this year. From January-November, economic growth reached 4.9%, compared to 2.7% in the same period last year. Overall, Kazakhstan’s GDP per capita increased from $11,500 to $13,300, the official website of the Prime Minister (primeminister.kz) reported.
Inflation in annual terms slowed to 10.3% in November, down from 20.3% in December 2022.
During the first six months of this year, $13.3 billion of foreign direct investment was attracted, which is a very high figure and guarantees support for economic growth in the medium term. By the end of the year, it is planned to reach approximately $27 billion.
A total of 210 new investment projects were put into operation in all sectors of the economy, creating 19,500 jobs. In total, 291 projects are expected to be put into operation by the end of the year.
Production in mechanical engineering is growing at a record pace of 26.8%. At the same time, in the automotive industry and the production of electrical equipment the figures are even higher – 41% and 32%, respectively.
This year, Kazakhstan exported goods worth $65 billion. At the same time, exports of processed goods reached $21 billion.
