ASTANA (TCA) — Kazakhstan’s GDP grew by 4.2 percent in the first half of 2017, Minister of National Economy Timur Suleimenov said at the meeting of the Kazakh Government on July 18 which reviewed the results of the country’s social and economic development for the first half of the year, the official website of the Prime Minister of Kazakhstan reported.
“The economy of Kazakhstan developed in conditions of stabilization of the commodity price environment, increase in the economic activity in the countries which are the main trading partners of Kazakhstan, as well as positive expectations regarding the growth of the world economy,” Suleimenov said.
In the reporting period, growth in the sphere of industry was registered at 7.8 percent and in agricultural production by 3.1 percent. The volume of construction work increased by 5.9 percent and commissioning of residential buildings increased by 11 percent.
Along with the manufacturing sector, there is a resumption of growth in services and retail sales. A stable situation was maintained in the country’s financial market. International reserves of the country as of July 1, 2017, including assets of the National Fund, increased by 1.9 percent.
Summing up the results of the socio-economic development of the country in the first half of the year, Prime Minister Bakytzhan Sagintayev instructed the central and local executive bodies to continue implementing systemic measures to address the tasks set by the Head of State to ensure further economic growth.
