Kazakhstan's economy grows 3.8% - Minister

ASTANA. KAZINFORM - According to the results of the first eight months of 2018, the growth of gross domestic product (GDP) in Kazakhstan amounted to 3.8%, Minister of National Economy Timur Suleimenov revealed Tuesday.

While addressing the Government's session, Minister Suleimenov noted that the positive trend of economic growth in Kazakhstan had persisted in January-August 2018.

"At the same time Kazakhstan's economy is developing amidst risks and volatility of the world markets. The GDP growth in the reporting period totaled 3.8%. It is 0.2% lower than in the first seven months of 2018," he said.

At the same time, Minister Suleimenov pointed out that this year the level of inflation is lower compared to the analogous period of 2017.

"Since the onset of the year inflation slid to 2.9% compared to 3.9% in 2017," he noted.

As of September 1, the international reserves of the country made $87.3 billion, while the National Fund assets reached $56.5 billion. Gold and currency reserves, according to him, grew by 0.1% and amounted to $30.8 billion.

During the reporting period, the growth in industrial production and processing industry made 4.7% and 4.8% compared to 5.1% and 4.9% in 2017, respectively.