Kazakhstan's Prime Minister Olzhas Bektenov reported to President Kassym-Jomart Tokayev that the country's GDP grew by 4.4% from January to November 2024. According to the Prime Minister, growth was also observed in agriculture (13.4%), construction (10.3%), trade (8.2%), transport (8.1%), manufacturing (5.3%), including metallurgy (7.2%) and machine building (6.9%), the chemical industry (8.4%), as well as information and communication (5.3%).
The economic growth of Kazakhstan in 2024 was fully driven by the development of the non-oil sector, which saw an increase of 5.1%. However, the failure to meet projected oil production targets impacted the overall pace of economic development.
"As a result of measures taken to support domestic producers and promote deeper processing, the export of processed goods increased by 10.2%, reaching $23.3 billion. Imports of goods decreased by 3.3%, and investments in fixed capital grew by 3.1%, with the highest growth also observed in non-oil sectors," Bektenov informed Tokayev. He also outlined plans to further boost business activity and enhance efforts to improve living standards in the regions.
In response, Kassym-Jomart Tokayev instructed the government to "continue efforts to maintain positive momentum in manufacturing, agriculture, construction, and transport sectors." He also issued directives regarding investment attraction, modernization of social and engineering infrastructure, import substitution, and ensuring stable prices for socially significant food products.
CentralasianLIGHT.org
December 18, 2024