The Kazakh economy, despite the consequences of the pandemic and the geopolitical situation, is showing confident growth, stated Prime Minister Alihan Smailov during an extended meeting of the country's largest party "Amanat" ("Ancestral Legacy"), TASS reports.
Smailov mentioned that "despite the pandemic's consequences and complex geopolitical conditions, thanks to the measures taken, the country's economy is demonstrating confident growth. In particular, the economy grew by 4.8% in the first seven months of the current year. Positive dynamics are observed in all major sectors," the statement says.
At the same time, Smailov noted that the GDP per capita in 2023 has risen to $13,300, and the foreign trade turnover has increased to $140 billion. "Currently, the country's international reserves amount to nearly $95 billion. Inflation is gradually decreasing, and by the end of the year, it will be twice as low as the previous year," the Prime Minister explained.
In 2022, Kazakhstan's inflation was 20.3%, within the forecasted range of 20-21% set by the National Bank of Kazakhstan. The GDP growth of Kazakhstan in 2022 was 3.1%. In 2023, authorities expect the country's economy to grow by 4.5-5%.
CentralasianLIGHT.org
August 31, 2023