Government • 14 August, 2018

Kazakh PM gives a number of specific instructions on ensuring stable economic growth

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August 14 at the meeting of the Government, in the course of consideration of the results of social and economic development and execution of the republican budget for 7 months of 2018, Prime Minister Bakytzhan Sagintayev gave a number of specific instructions for ensuring stable economic growth, reports primeminister.kz.

Having considered the reports of the ministries of national economy, finance, investment and development, energy, agriculture, Bakytzhan Sagintayev noted that according to the statistics for the seven months the growth was 4%. The growth rate was at the level of the same period last year.

However, despite the fact that there is a certain growth, at the same time, in some industries there is a lag in comparison with last year.

In the extraction of non-ferrous metal ores (7 months of 2018 — 103.1%, 7 months of 2017 — 111.5%), production of non-metallic mineral products (7 months of 2018 —  99.1% 7 months 2017 — 101.9%), textile products (7 months of 2018 — 102%, 7 months 2017 — 123.5%), clothing (7 months of 2018 — 99.8% , 7 months 2017 — 101.1%), leather products (7 months of 2018 — 101.6%, 7 months 2017 — 108.1%), pharmaceuticals (7 months of 2018 — 98.4%, 7 months 2017 — 130.8%), beverages (7 months of 2018 — 99.1%, 7 months 2017 — 105.8%), as well as refining (7 months 2018 — 104.3%, 7 months 2017 — 106.9%) growth is not observed.

According to the results of the first half year, the Ministry of National Economy showed the level of necessary growth to achieve the target in terms of economic sectors. However, as the results of seven months show, not all ministries and regions strive to reach this level.

The Prime Minister noted that in the monthly reports of akims of the regions there are no significant changes, there is no analysis. In this regard, Bakytzhan Sagintayev instructed the ministries of investment and development, energy, and other sectoral ministries and regional leaders to take the necessary measures to ensure the growth of the country's economy.

To achieve the goals set by the Head of State, it is necessary to have a corresponding growth of at least 4% per month in all sectors of the economy. Administrators of budget programs, akims of the regions are instructed to conduct competitive procedures in time and take appropriate measures for the full development of budgetary funds.

In addition, the Ministry of Finance was instructed to review the undeveloped budget funds on the basis of 9 months results.

The control was assigned to First Deputy Prime Minister Askar Mamin.

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