GDP growth for five months reaches 3.9% — Timur Suleimenov

At the Government meeting chaired by the Prime Minister Bakytzhan Sagintayev, Minister of National Economy Timur Suleimenov, Minister of Finance Bakhyt Sultanov and Chairman of the National Bank Daniyar Akishev reported on the socio-economic development and the execution of the republican budget for 5 months of 2018, reports

Егемен Қазақстан
12.06.2018 671

According to the presented reports, economic processes show growth in virtually all segments of economic activity.

So, according to Timur Suleimenov, GDP growth for the first five months of this year amounted to 3.9%. Economic recovery is taking place because of the increased investment activity and a slowdown in inflationary processes.

It was noted that inflation is fixed at 6.2%, which is the lowest value for the last three years.

The production in mining and quarrying industries increased by 5.6% due to the growth in the natural gas production by 6.5%, crude oil — by 6.4%, iron ore — by 6%. In manufacturing, there was an increase by 5.5% due to growth in the production of paper and paper products by 14.4%, chemical industry — by 11.2%, tobacco products — by 10.5%, beverages — by 8.1%, food products — 6.3%. Also, the indicators grew in the machine building industry by 12.2%, in furniture production — by 6.6%. The volume of agriculture remained at a positive mark of 3.9%. The increase was the result of the steady growth in livestock production by 4%.

"Investments in fixed assets have increased by 25.3% since the beginning of this year. This is the result of the modernization of the Shymkent Oil Refinery and the implementation of the project of future expansion at the Tengiz field," Suleimenov emphasized.

Foreign trade turnover shows significant growth. For the first quarter of this year, the indicators increased by 24.3% — $21 billion. Export indicators grew by 27%. At the same time, the increase in exports of non-primary goods amounted to 11.2%

Also, the positive dynamics of labor market indicators was noted. Since the beginning of this year, 134.8 thousand people have been employed.

The Chairman of the National Bank Daniyar Akishev spoke about the implementation of the President's Five Social Initiatives in the part of ensuring long-term credit provision to the economy and increasing the availability of housing through the development of mortgage lending.

"In order to develop long-term loans, the following measures will be implemented: the banks will receive 200 billion tenge under the Program 7-20-25 in the coming year, which they will spend on mortgage lending. In the future, the amount will reach 1 trillion tenge, which will double the current amount of the mortgage portfolio of banks to $2 trillion tenge,” Akishev said.

Minister of Finance Bakhyt Sultanov reported on the results of execution of the state budget for the first five months. According to him, the state budget revenue grew by 11%, the republican  by 12%, the local — by 7%. This was facilitated by an increase in the volume of revenues from mining and the tax on gambling. Thus, the state budget received a total of 3290 billion tenge, including the amount of the republican — 2334 billion tenge.

"The revenues of local budgets were exceeded by 120 billion tenge and amounted to 957 billion tenge. In comparison with the same period last year, the growth amounted to 60 billion tenge," Sultanov said.

According to the Ministry of Finance, as of June 1, contracts worth 178.6 billion tenge were concluded. More than 190,1 billion tenge were allocated for the regions.



Luis Leon Sanchez took a solid 4th place in the general classification


Uzbekistan creating single uranium extraction enterprise


Opening ceremony of the Year of Youth to hold in Astana


Plans on strengthening Kazakh-Swiss ties discussed in Bern


How to buy housing in Kazakhstan on affordable conditions?


Kazakhstani film is recognized as the best children's film at the Bangladesh Film Festival


UAE Embassy distributes school supplies to students in Kazakhstan


Nursultan Nazarbayev visits the Smart Aqkol Situation Center


Kazakh President visits the data processing center of Kazakhtelecom JSC


Uzbekistan to create new free economic zone for Indian companies


Luis Leon Sanchez finishes second at stage 3 of the Santos Tour Down Under


Nur Otan Party to hold its 18th congress in Astana


Digitalization of technological cycle in entire construction industry will improve quality of housing — Kairbek Uskenbayev


Executive Secretary of Kazakh MFA appointed


Chairmen of public procurement and treasury committees of the Ministry of Finance appointed


Askeri Baspana: 2,250 military servicemen bought apartments under concessional lending program


2018 was a record year for obtaining apartments and provision of housing for Kazakhstanis


Over 113 thousand families improved their living conditions — Kairbek Uskenbayev


Construction of administrative, business, cultural and spiritual centers started in Turkestan


Kazakhstan ranks 10th for gasoline prices worldwide


Aliya Ashim, Journalist

Brazil’s version of Trump: why is it a «wake-up call» for the world?

<p style="text-align: justify;">A racist, a homophobe, a misogynist, a pro-torturer. Because of the profane outbursts and verbal abuse, he has earned such an image and was even considered as a political clown. Once he insulted lawmaker claiming that she was too ugly to be worth of raping. What is more, he said that he’d rather have a dead son than a gay one. Therefore, analysts concluded that Brazil has elected the most extremist president among democratic countries. So why did Brazil decide to make «really radical shift»? How did such an «extreme» and «unpleasant» figure become a president?<br /> </p>

Jylkybay Jagyparuly,

Mechanical engineering is a potential pillar of the economy

In industrialized countries, one of the most important indicators of the economy is the level of development of the machine-building industry. Independent Kazakhstan, striving to achieve ambitious goals, is making great efforts to develop machine building in the process of diversifying its economy.

Alisultan Kulanbay,

June 4 - Day of State Symbols of Kazakhstan

State symbols - the State Flag, State Anthem and State Emblem demonstrate to the world the independence of the Republic of Kazakhstan, also continuity between the past, the present and the future of the state.

Ainash ESALI,

Is it all good that they advertise?

Advertising is the driving force of production and business. This is an indisputable fact.

Nazira RAKHMANKYZY, Film critic

Splash of commercial films in Kazakhstan

Last year, the number of feature films which filmed reached thirty-six in Kazakhstan. We should say that it is an unprecedented figure in the history of Kazakh cinema in the last quarter century.