Investments in fixed assets of Kazakhstan increased
By Sara Israfilbayova
Short-term economic indicator in Kazakhstan for the first half of this year increased by 5.2 percent.
Business edition LS writes that in the first half of 2018, investments in fixed assets of Kazakhstan increased, adding that the investment crossed the mark of 2.5 trillion tenge ($12.45 billion), which is higher than last year’s figures for the same period by 25.8 percent.
The volume of industrial production for the reporting periods reached 13.2 trillion tenge ($61.24 billion).
The publication with reference to the Committee on Statistics specifies that production in the mining industry and quarrying has grown by more than 5 percent.
Earlier, Minister of National Economy Timur Suleimenov said that investments in fixed assets continue to grow.
According to the results of the first half of the year, GDP growth was 4.1 percent. Suleimenov noted that as of June 1, the country’s international reserves have increased by 0.9 percent - up to $89.9 billion.
He said that in 2018, Kazakhstan’s GDP growth is expected at 4 percent.
“Today the economy of Kazakhstan is developing in conditions of gradual improvement of the internal and external economic situation. Last year, the world economy achieved growth of 3.8 percent against 3.2 percent in 2016. In the phase of accelerating economic activity, our country has also entered at a pace that is faster than economic growth,” the minister stressed.
The rate of economic growth in 2018-2019 is estimated to be 3.5 percnt and 2.7 percent, respectively. More positive dynamics of economic activity in 2018 will be observed against the background of the recovery of domestic consumer demand, accompanied by the growth of consumer lending.
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Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is
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