Decorative art exhibition fair opens in Baku

By Azernews

By Kamila Aliyeva

The GDP of Kazakhstan per capita will grow to $ 46,000 by 2025. This was stated by Kazakh Minister of National Economy Timur Suleimenov at a government meeting, Kazinform reported.

“As you know, at the beginning of this year, the head of state signed the Strategic Development Plan of the country until 2025. The main goal until 2025 is to achieve a qualitative and sustainable growth of the economy, leading to an improvement in the living standards of people comparable with the OECD countries. For this purpose, the economic growth is planned to reach a level of at least 4.5-5 percent on average per year, which will enable Kazakhstan to increase GDP per capita to $ 46,100 by 2025,” the minister said.

According to Suleimenov, ensuring the planned growth rate is a prerequisite for achieving the set goals.

“At the same time, GDP does not fully reflect the quality of life, the level of real welfare of citizens and damage to the environment. In this connection, key national indicators measuring the quality of life of the population and the quality of economic growth are provided for measuring progress on the way of the 30 developed countries of the world and achieving the goal,” he noted.

The official said that the key national indicators are divided into 14 spheres of measurement and include 37 indicators, including international ratings. And in order to achieve key national indicators of the Strategic Development Plan until 2025, the Strategic Map was developed.

“In the Strategic Map, the key national indicators, if data are available, are broken down by sector and region, indicating annual values,” he added.

Kazakhstan’s GDP grew 4 percent in January-July 2018. Inflation remains at a three-year low. Since the beginning of the year inflation was 2.7 percent, and the annual inflation was 5.9 percent.

In 2017, Kazakhstan's GDP increased by four percent compared to a one-percent growth in the previous year.