Kazakh PM notes improvements in macroeconomic situation in 2017

ASTANA. KAZINFORM - Prime Minister Bakytzhan Sagintayev reported on the work done by the Government of Kazakhstan to the President of the country during an extended session on Friday, Kazinform reports. 

In his report, Premier Sagintayev stressed that Kazakhstan managed to avoid dramatic scenarios only thanks to President Nazarbayev's timely decisions.

"The program of innovative industrialization was an ultimate response to the global financial crisis of 2007-2009. The second five-year plan of industrialization is currently underway in Kazakhstan (...) In early 2017 you announced the course towards the 3rd modernization of Kazakhstan," Sagintayev said in his remarks.



The Prime Minister also commended last year's growth of GDP.

"GDP growth amounted to 4%. That result is mainly thanks to non-resource sector. It demonstrates the sustainability of our economy and changes in its structure. Foreign trade turnover grew by 25% up to $69.5 billion. Private investment's growth totaled 6.9%. Macroeconomic situation improved, where the inflation rate went down," Sagintayev added.