Kazakhstan sees 1.8% decline in investments in fixed capital

NUR-SULTAN. KAZINFORM – Investments in fixed capital dropped by 1.8% in Kazakhstan, Prime Minister Askar Mamin told an expanded government session, Kazinform correspondent reports.

During the session, the Kazakh PM noted that there has been high investment activity in non-primary sectors of the economy, which leads to sustainable and quality development of the economy through diversification.

He said that there has a 23.2% rise in growth of investments not including mining.

Mamin also pointed to the considerable growth in investments in construction, manufacturing, including food manufacturing, trade information and communications, estate operations, and transport.

«Investments in fixed capital fell by 1.8% due to the slowdown in the implementation of the major projects at the Tengiz and Karachaganak oilfield. Despite that, the investments will rise by the yearend,» he assured.

In 2021, KZT2.4trl will be utilized to implement the projects at Tengiz, 24% more than in the previous year, and KZT142bn at Karachaganak, up 17%, which will enable to restore investment activity in the primary sector.