Kazakh GDP growth disclosed

By Azernews

By Abdul Kerimkhanov

Today, Kazakhstan is experiencing stable economic growth.

The country’s GDP growth reached 4 percent in January-May 2019, Kazakh Prime Minister Askar Mamin has said at the government meeting.

He instructed to take measures to increase the pace of economic development.

The main drivers of the economy were construction - an increase of 8.8 percent, trade - 7.5 percent, transport - 5.3 percent, processing industry, including mechanical engineering - 16 percent, and auto industry - 46.4 percent.

The work in Akmola, Pavlodar, East Kazakhstan, Kostanay, Turkistan regions was marked as showing positive socio-economic development in the first five months of 2019.

Mamin instructed the regional governments to strengthen measures to ensure the growth of indicators in construction, investment, industry and housing construction.

Meanwhile, monthly inflation amounted to 0.6 percent in May 2019. Thus, inflation since the beginning of the year was 2.4 percent. Mamin stressed that despite the compliance with the established corridor (4-6 percent), in a number of regions there was an increase in prices for agricultural products.

Kazakh PM said that now the market is full of fresh vegetables, fruits and berries, and therefore, prices should decline. He noted that the regional governors must take comprehensive measures to stabilize prices, especially for socially important food products.

As for the execution of the state budget, Mamin stressed the need to continue intensive work on the timely conduct of competitive procedures as this will level the risks of non-execution of budget funds.

Summing up, the prime minister mentioned the importance of ensuring the full implementation of the strategic course of the First President Nursultan Nazarbayev and the fulfillment of the electoral program of President Kassym-Jomart Tokayev.

These measures include increasing the income and quality of life of the population through sustainable development of the economy, infrastructure, and provision of affordable housing, education and healthcare.