Government • 24 January, 2020

Government sums up results of socio-economic development for 2019

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At the extended Government session chaired by the President Kassym-Jomart Tokayev, the Prime Minister Askar Mamin reported on the results of the country's socio-economic development for 2019, reports. 

The prime minister noted that in 2019, the Government carried out work on the implementation of the strategic course of Elbasy Nursultan Nazarbayev, the Plan of the Nation “100 Concrete Steps” to Implement Five Institutional Reforms, the objectives of the 28th congress of the Nur Otan party, as well as the tasks set by the President Kassym-Jomart Tokayev in his Election Program and Address to the people of Kazakhstan.

At the end of 2019, real incomes of the population grew by 5.5%, GDP growth amounted to 4.5%. Over 85% of the growth was provided by non-resource sectors. The main growth drivers were construction (12.9%), trade (7.6%), transport (5.1%) and industry (3.8%). In the manufacturing industry, growth was 4.4%, which was achieved through the automotive industry (63%), the production of machinery and equipment (22%), pharmaceuticals (12%), light industry (14%) and the production of beverages (10%). The mining industry grew by 3.7% as a result of an increase in metal ore production by 16%.

Investments in fixed assets increased by 8.5%, incl. private investment — by 9.5%. Inflation is in the planned corridor of 4-6% at the level of 5.4% (in 2018 — 5.3%).

Real incomes increased by 5.5%. In 2019, wages were increased for 2.7 million citizens, including due to measures to increase the minimum wage (1.5 times to 42.5 thousand tenge), which received wide support among businesses. The labor market remains stable. The unemployment rate was 4.8%. More than 423 thousand new jobs were created, including 279 thousand permanent ones.

Revenues to the state budget excluding transfers amounted to 9 trillion 688 billion tenge (101.2% of the plan), which is 1.5 trillion tenge more than in 2018. Foreign trade turnover rose to $97 billion, incl. export — $60 billion; import — $37 billion.

In 2019, about $25 billion of foreign direct investment was attracted. The share of SMEs in the economy reached 29.5%. The number of operating enterprises grew by 8%. By Jan. 1, 2020, the comprehensive privatization plan was implemented by 93%.

Implementation of the Nurly Zhol, Nurly Zher state programs and the development of regions has allowed the construction of more than 13 million square meters of housing, cover the construction and reconstruction of more than 4.4 thousand km and put into operation more than 640 km of republican roads. As part of the Aul – El Besigi project, 452 projects were implemented in 53 villages.

“In the context of increasing global competition for investment, the Government focuses on attracting a new wave of investment in the country's economy. Our strategic task is to increase the volume of investments in fixed assets annually by 15% and bring its level to 30% of GDP by 2025 (18.2% in 2019),” said Mamin.

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