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Kazakh PM announces economic growth in 1Q

15 May 2019 10:50 (UTC+04:00)
Kazakh PM announces economic growth in 1Q

By Abdul Kerimkhanov

Kazakhstan has achieved significant success in building a democratic state with a market economy. The country is recognized by developed states as a country with a market economy.

Growth in Kazakhstan’s economy in January-April 2019 was 4 percent compared to the same period last year, said Prime Minister Askar Mamin during a government meeting on May 14, according to the government’s press service.

The Head of the Government noted the preservation of positive dynamics of economic growth, having heard reports of the National Bank Chairman, Ministers of national economy, finance, industry and infrastructure development and regional governors.

The main economy drivers were construction, where there was an increase of 8.4 percent, trade - by 7.3 percent, transport sector - by 4.8 percent, engineering industry - by 19.8 percent, including the auto industry - by 45.8 percent, mining of metal ores - by 14 percent, oil refining - by 9.1 percent, and light industry - by 27.4 percent.

Mamin expressed the need for not only maintaining this dynamic, but also taking measures for the further economy development.

Economic growth in the main basic indicators was achieved in East Kazakhstan, Kostanay, Turkistan, Pavlodar and Atyrau regions.

The Government head instructed Mangistau, Akmola regions and Nur-Sultan, Shymkent cities’ administrations to intensify the work on increasing the volume of construction, investment, industry and housing.

Mamin stressed that the administrations that allowed the decline need to reach the planned indicators, and the leading regions should not reduce the pace.

Revenues to the republican budget in January-April 2019 made up 2.1 trillion tenge ($5.5 billion), the growth rate was 119.4 percent.

The republican budget development for the reporting period amounted to 98.3 percent.

The Prime Minister also instructed to strengthen the work and ensure the timely development of budgetary funds, in connection with the incomplete execution of the budget observed by a number of program administrators.

Mamin further noted the need to efficiently use all available reserves. He called to ensure high-quality and full-fledged implementation of the programs “Nurly Zhol”, “Nurly Zher”, Industrial-innovative development and other sectoral government programs.

He added that these programs’ implementation will give a serious impetus to the economy development.

The central and local state bodies were instructed to make every effort to accelerate economic development pace.

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

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