Crucial to preserve economic growth trajectory, Kazakh PM

Zhanna Nurmaganbetova
14 February 2023, 12:12

Crucial to preserve economic growth trajectory, Kazakh PM

ASTANA. KAZINFORM «Since the beginning of the year the GDP grew by 5.6%. The key economic sectors saw positive dynamics,» Kazakh Prime Minister Alikhan Smailov announced at today’s Government meeting.

«The real sector ensures steady economic growth. The processing industry, construction sector and agriculture report a positive development trend,» Smailov said. He added the industrial sector records production output growth by 1.5% and manufacturing by 1.6%.

Pharmaceuticals saw an increase by 51%, the light industry by 11%, oil processing by 11%, the chemical industry by 11%, etc. The construction sector reported a steady growth by 12.5%. Over 1 million square meters of housing were commissioned.

As stated there, Kostanay region and Almaty city reported the most growth in all basic macroeconomic indicators in January, while the least recorded in Abai and Karaganda regions.

The Prime Minister stressed the need to maintain the trajectory of the economic growth rate though it is not an easy task in today's geopolitical conditions. The priority should be given to saturating the domestic market with domestic goods and increasing the growth of non-primary products. It is necessary to expand the potential and stimulate the development of small and medium-sized businesses, create an attractive investment climate and maintain an active dialogue with investors.


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