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Wednesday, December 2nd, 2020

GDP growth in Kazakhstan in the first four months of this year amounted to 3.7%

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Today’s Government meeting chaired by Prime Minister Bakytzhan Sagintayev discussed the economic growth rates for the 4 months of 2017.

Minister of National Economy Timur Suleimenov noted that according to the results of the 4 months, there has been growth acceleration in most sectors of the economy. GDP growth in January-April 2017 was 3.7%.The key factors were consumer and investment demand, as well as expanding activity in the real sector of the economy, which helped support GDP dynamics.

The positive GDP changes are due to the steady growth in the extractive and processing industries, construction and services. Among the branches of the mining industry there is a positive change in terms of coal and lignite, oil and natural gas production. Recovery was also recorded in key processing segments. In particular: in oil refining, pharmaceutics, production of non-metallic mineral products, metallurgical products and machinery.

In the agro-industrial complex, the gross agricultural output production volume did not change and remained at a positive level of 2.9%. Construction also maintains a positive trend, increasing 6.1%. Dynamic work is under way in Pavlodar and Zhambyl regions and in Astana.

According to the Ministry of National Economy, tertiary industries over the reporting period grew 1.9%. In terms of sectors, growth is noted in trade and information and communication, the development of transport and warehousing services increased by 3.5%, while freight turnover increased by 5.9%, passenger turnover – by 3.2%.

Source: Government of the Republic of Kazakhstan

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