14 May, 2019

Investment dynamics surpasses GDP growth rates — Ruslan Dalenov

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At the meeting of the Government chaired by the Prime Minister Askar Mamin, the country’s socio-economic development results for January-April 2019 were summed up, the press service of the Prime Minister reports.

Minister of National Economy Ruslan Dalenov reported that in January-April GDP growth accelerated to 4%.

“In January-March, it was 3.8%. Dynamics is ensured by acceleration in the manufacturing industry, the service sector, as well as stable rates in construction and agriculture,” said Dalenov.

The dynamics of investment is ahead of GDP growth. The increase was 6.7%. Investment in agriculture, construction, and industry increased significantly. International reserves as of April 1, 2019, amounted to $86 billion.

Industrial production in January-April 2019 increased by 2.9%. Growth is accounted for the leading pace in the manufacturing industry.

“In manufacturing, there is a growth trend. For 4 months, the output increased to 3.5%. In the first quarter, growth was 1.6%. Acceleration of growth in oil refining, machine building, beverage production, as well as the output of pharmaceuticals in the positive zone influenced the increase in the processing rates,” Dalenov informed.

Meanwhile, the dynamics in construction is stable. The volume of construction work increased by 8.4%.

Agriculture maintains steady growth. Production increased by 3.6%. It was achieved after the increase in livestock production by 3.7%. At the same time, crop production has remained at the same level as in 2018.

In addition, the acceleration of growth is observed in the service sector. During the reporting period, an increase of 4.2% against 3.7% in the first quarter.

“Trade is the growth leader in the services segment. Its growth is fixed at 7.3%. This is mainly due to the increase in sales of motor vehicles, auto parts, petroleum products and fuel,” said the minister.

In the transport sector, an acceleration of up to 4.8% was recorded: the freight turnover of air transport increased 1.9 times, the freight turnover of road transport rose by 9.7%.

It should be noted that in January-March, the foreign trade turnover amounted to $20.4 billion. The export volume amounted to $13.3 billion. The growth of export deliveries, excluding oil and metals, reached a double-digit figure of 19.8%.

Chairman of the National Bank of Kazakhstan Erbolat Dossaev said that inflation remains within the established target corridor of 4-6% for 2019–2020. Since the beginning of the year, the figure was 1.8%. Monthly inflation in April 2019 amounted to 0.5%. Tenge has strengthened by 1% since the beginning of the year.

As part of the housing program 7-20-25, 12,830 applications were received. As of today, 7,633 applications have been approved for 88.2 billion tenge, of which 6,380 applications have already been issued for 74.9 billion tenge.

Minister of Industry and Infrastructure Development Roman Sklyar, First Vice Minister of Energy of Makhambet Dosmukhambetov, akims of Mangistau region Eraly Tugzhanov, Akmola region Yermek Marzhikpaev, Akim of Nur-Sultan Bakhyt Sultanov.

As Minister of Industry and Infrastructure Development Roman Sklyar reported, the situation in coal mining, ferrous metallurgy, iron ore will be stabilized by the end of 2019.

“There are contracts for coal-mining enterprises, we will reach the planned figures. The ferrous metallurgy has already reached 12 thousand tons per day, by the end of May, about 340 thousand tons of steel will be produced, by the end of May we will reach the planned indicators for the production of ferrous metallurgy,” said Sklyar.

The First Vice Minister of Energy Makhambet Dosmukhambetov reported that over the four months of 2019, the figures for oil production were 29.5 million tons, which is 100% consistent with the plan. However, compared with the previous month, a decrease of 1.1% is observed, which is associated with the planned work at the fields, which should be completed by the end of May 2019.

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