Kazakhstan aims to increase GDP

11 September 2019 10:57 (UTC+04:00)

By Abdul Kerimkhanov

Kazakh government aims to increase the GDP of the country to five percent by 2025, Kazakh Prime Minister Askar Mamin said while discussing the results of the first eight months of 2019.

"The main task for the Kazakh government is to ensure annual sustainable GDP growth and bring it to five percent and higher by 2025," he said at a government session held to discuss the results of the country's socio-economic development and the state budget for January-August 2019.

Mamin instructed the ministries to strengthen work to achieve the established target indicators. He also tasked his government to increase growth indicators for construction, investment, industry, agriculture and housing commissioning in Mangystau, Kyzylorda, West Kazakhstan regions, and the cities of Nur-Sultan and Shymkent.

In addition, he noted the growth of the economy in terms of basic indicators in Atyrau, Karaganda, Kyzylorda, Turkistan, East Kazakhstan and North Kazakhstan regions.

Addressing the government session, Minister of Economy of Kazakhstan Ruslan Dalenov said there was increase in the country’s GDP in the first eight months of 2019 compared to the same period in 2018.

“In January-August 2019, GDP growth made up 4.3 percent compared to the same period of 2018. Positive dynamics is observed in construction - by 11.8 percent, trade - 7.6 percent, transport - 5.5 percent, agriculture - 3.6 percent, communication services - 3.4 percent, the manufacturing sector, including in engineering - by 18 percent, light industry - 17.4 percent, non-ferrous metal mining - 17.9 percent, and oil refining — by 6.2 percent,” he said.

Revenues to Kazakh budget for the first eight months of 2019 amounted to 6.96 trillion tenge ($18 billion or 101.1 percent of the plan); the growth rate was 119.2 percent. The budget execution for January-August 2019 amounted to 98.9 percent, Dalenov informed.

He also noted that the average per capita nominal cash income of the population in January-May 2019 amounted to 486,000 tenge ($1,257) and increased by 10.8 percent in nominal terms and by 1.7 percent in real terms, compared with the same period of 2018.


Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

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