Kazakhstan GDP increases by 4.1% in H1 2018

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ASTANA. KAZINFORM - GDP growth in Kazakhstan in the first half of this year reached 4.1%, said Minister of National Economy of the Republic of Kazakhstan Timur Suleimenov, Kazinform correspondent reports.

"In general, the economic ramp-up is taking place amid sustained disinflation processes and high investment activity," the minister told a session of the Government of the Republic of Kazakhstan on Tuesday.

According to Timur Suleimenov, inflation is steadily narrowing and has declined to the three-year low. "It has reached 2.6% year-to-date, while the annual inflation has been 5.9% (June against June). In terms of all inflation components, there is a price deceleration," the minister stressed.

The head of the Ministry of Economy also said that investment in the fixed capital continues an upward trend, growing by 25.8%.

Also, according to him, as of June 1 of the current year, the country's international reserves have increased by 0.9%, up to $89.9 billion. The National Fund's assets have enlarged by 1.5% (up to $59.2 billion).

"I would like to mention that, in view of the stable and qualitative first half of the year, there is a potential for attaining GDP growth of 4%+. To that end, we need to keep the development of the economy at 3.9% in the third quarter and 4% in the fourth quarter," the minister concluded.

 

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