Kazakhstan: Economic growth reaches 4%

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NUR-SULTAN (TCA) — At the meeting of the Government on May 14, chaired by Prime Minister Askar Mamin, the results of the country’s socio-economic development and the execution of the national budget for January-April 2019 were reviewed, the official website of the Prime Minister of Kazakhstan reported.

Kazakhstan’s GDP growth in January-April 2019 amounted to 4% compared to the corresponding period last year. The main drivers of the economy were construction, where there was an increase of 8.4%, trade — 7.3%, transport — 4.8%, engineering — 19.8%, including the automobile industry — 45.8%, mining of metal ores — 14%, oil refining — 9.1%, and light industries — 27.4%.

The growth of the economy in terms of basic indicators was achieved in the East Kazakhstan, Kostanay, Turkistan, Pavlodar, and Atyrau regions.

Revenues to the national budget for the first four months of this year amounted to 2.1 trillion tenge, with a 19.4% growth.

The prime minister emphasized the importance of ensuring stable economic growth.

“It is necessary to effectively use all available reserves. To ensure high-quality and full-fledged implementation of the programs Nurly Zhol, Nurly Zher, Industrial and Innovative Development and other sectoral state programs,” Mamin instructed, adding that “the implementation of these programs will give a serious impetus to the development of the economy”.

The central and local government bodies have been instructed to make every effort to accelerate the pace of economic development.

Sergey Kwan

TCA