The economic growth in Kazakhstan has amounted to 4.3% since the beginning of this year, the First Vice-Minister of the National Economy of Kazakhstan Ruslan Dalenov said on September 19 during a government meeting.
“After the slight slowdown of 4% in July, the economic growth accelerated to 4.3% during the eight months of this year, according to preliminary estimates. Foreign trade has grown by almost a third, the inflation has slowed down within the target corridor. On this background, Moody’s and S&P rating agencies improved the outlook for the sovereign credit rating from negative to stable,” Dalenov said.
The vice-minister also stressed that high dynamics of growth was observed in four basic industries of six, which were industry, trade, transportation and warehousing, information and communication. The slowdown in growth rates is noted in construction and agriculture.
“At the same time, in Mangystau and Kyzylorda regions there was a decline in industry – by 0.2% and 3.6%. In Karaganda and Almaty there is a decrease in construction – by 4.6% and 13.7%, and investments in fixed assets – by 21.2% and 22.7%,” said Dalenov.
On the background of business activity in the manufacturing sector, there is a gradual entry into the trajectory of stable growth in the service sector. In the eight months of this year, transportation services increased by 4.7%, trade and communications increased by 2.9%, according to Dalenov. (Trend/Business World Magazine)