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Commodity turnover to exceed $100B by yearend, Kazakh Government forecast

17 May 2019 13:02
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Commodity turnover to exceed $100B by yearend, Kazakh Government forecast

NUR-SULTAN. KAZINFORM Kazakh Prime Minister of Kazakhstan Askar Mamin talked about the country's economic situation, Kazinform reports.

Addressing the global investments roundtable held as part of the Astana Economic Forum, the PM noted that investments were and still remain the fundamental economic growth and development factor. More than USD 300 bln was invested into Kazakhstan's economy over the years of its independence.

"Success let us to become one of the largest and the most competitive economies in the region. The country's GDP grew more than fourfold in 2018. The cross-border trade rose by 20% caused by export development by 26%. With the current pace of growth the commodity turnover is expected to exceed USD 100 bln by the yearend," Mamin said.

The PM also stressed that more than USD 24 bln of direct foreign investments were channeled into Kazakhstan in 2018 that is 90% of the total amount of direct foreign investments into Central Asia.

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