In 2023 Kazakhstan began to focus on sustainable development. Last year’s economic growth was 5.1%, and in 2024 the government forecasts growth of at least 5.3%, the website of the Kazakh prime minister reported on February 5th.
All major economic sectors showed positive dynamics in 2023: construction grew by 13.3%, trade by 11.3%, information and communication services by 7.1%, transport services by 6.9%, and industry by 4.3%.
Between January and September 2023 the volume of foreign direct investment amounted to $19.7bn, including more than $11bn to non-resource sectors.
From January-November 2023 Kazakhstan’s foreign trade turnover increased by 2.2% and amounted to $126bn, with exports exceeding imports by $16bn.
The country’s international reserves amounted to $96bn, including the assets of the National Fund that increased by $4bn to over $60bn.
Last year inflation fell by more than half, to 9.8%. In 2024 the government’s target is to keep inflation in the range of 6-8%.
