Politics • 11 June, 2019

According to results of five months in 2019, positive GDP dynamics maintained — MNE

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June 11 at the Government meeting chaired by the Prime Minister Askar Mamin, the results of the country's socio-economic development and the execution of the republican budget for January-May 2019 were summed up, reports the press service of PM.

Minister of National Economy Ruslan Dalenov reported that in January-May 2019, the positive dynamics of GDP was preserved — the growth was 4%.

“The dynamics of investment outpaced GDP growth. Growth accelerated to 7.8% versus 6.7% in 4 months 2019. Investment in agriculture and construction increased one and a half times. In industry, investment grew by 17.5%,” said Dalenov.

Industrial production in January-May 2019 increased by 2%. Acceleration is observed in construction. For five months, growth reached 8.8%. Construction of industrial facilities, roads, gas pipelines, as well as installation work at large factories has been increased.

Sustained growth is maintained in agriculture. Production increased by 3.7%.

Increase in output has been noted in the service sector. During the reporting period, this area increased by 4.7% against 4.2% in January-April. In all sectors of this sector, the dynamics are accelerating. In the services segment, trade shows the highest growth. Sales for the five months increased by 7.5%. This is mainly a result of growing sales of motor vehicles, auto parts, and petroleum products. An acceleration of up to 5.3% has been recorded in the transport sector.

Chairman of the National Bank Erlan Dossaev noted that the monthly inflation in May 2019 was 0.6%. Inflation in annual terms — 5.3%. According to forecasts of the National Bank, inflation will remain within the specified target corridor of 4-6% for 2019-2020. The exchange rate of tenge remained at the level of the end of 2018.

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