Government • 12 March, 2019

Growth of Kazakhstan's economy in January-February reached 3.5%

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The country’s socio-economic development and the execution of the republican budget for January-February 2019 were summed up at the Government meeting. First Deputy Prime Minister – Minister of Finance Alikhan Smailov, Chairman of the National Bank Erbolat Dossaev and Minister of National Economy Ruslan Dalenov presented reports.

Prime Minister Askar Mamin noted positive growth in the mining, chemical, mechanical engineering, trade, transport and agriculture sectors. In general, GDP growth for two months amounted to 3.5%.

In addition, by the end of February 2019 compared to January 2019 there is also a positive growth trend in construction, investments in fixed capital, manufacturing, and metallurgy.

At the same time, some regions are lagging behind in investments in fixed capital and indicators in the industrial and construction sectors.

In this regard, the Prime Minister instructed the Ministry of Industry and Infrastructure Development, jointly with regional akims, to study the reasons for the non-achievement of indicators and take concrete measures to achieve planned positive growth in the first quarter.

“Stable economic growth is our main task. And we must achieve at least 5% GDP growth for the current year. To do this, everyone must mobilize,” said Mamin.

In addition, given the problems of last year’s budget disbursement at the beginning of the year, it was entrusted to intensify efforts to ensure the planned monthly disbursement of allocated funds.

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