Kazakhstan’s industrial output grows by 3.8% - Finance Ministry

NUR-SULTAN. KAZINFORM Kazakh Finance Minister Yerulan Zhamaubayev said that the financial results for 2021 were negatively influenced by the coronavirus pandemic, Kazinform reports.

«At the same time, 2021 witnessed the recovery of business as compared to 2020. Last year the GDP growth made 4%,» the Minister told the plenary session of the Majilis on the results of the execution of the republican budget in 2021.

The driving factors for the revival of business activities were acceleration of growth in the service industry, strengthening of the balance of trade due to high export growth rates, and high investment activities in non-energy extractive industries. Positive results were achieved in all the backbone industries.

He added that industrial output grew by 3.8%, construction industry by 7.6%, transport and trade by 3.6 and 9.2% correspondingly. The inflation rate in 2021 made 8.4% exceeding a target corridor of 4-6%.