Kazakh PM Instructs Government to Maintain Country’s Dynamic Economic Growth

NUR-SULTAN – Kazakh Prime Minister Alikhan Smailov highlighted the positive dynamics in the key sectors of the economy over the last eight months and instructed his government to keep up the current level of economic growth during a Sept. 13 government meeting, reported the Prime Minister’s press service. 

Kazakh Prime Minister Alikhan Smailov during Sept. 13 government meeting. Photo credit: primeminister.kz

Manufacturing and mechanical engineering are industries that, according to Smailov, are the key drivers of economic growth. Smailov said that the Akmola, Karagandy, and Kostanai Regions, as well as the city of Shymkent, exceeded growth indicators in all major areas of the economy and directed the administration of these regions to keep the momentum going.

According to Kazakh Minister of National Economy Alibek Kuantyrov, Kazakhstan’s GDP grew 3.1 percent between January and August. The real sector expanded by 3.3 percent. Production in mechanical engineering increased by 7.9 percent. 

Over the first eight months of 2022, foreign trade turnover increased by 37 percent to $74.3 billion. Exports reached nearly $50 billion.

The national budget revenues reached 10.1 trillion tenge  (US$21.3 billion), of which 6.8 trillion (US$14.4 billion) went to the country’s budget and 3.3 trillion (US$6.97 billion) to regional budgets, said Finance Minister Yerulan Zhamaubayev.

Smailov also pointed out the rising inflation and directed the government and regional akimats (governor’s administrations) to step up efforts to stabilize the prices of socially essential food products, stimulate food production, and meet the needs of the domestic market.

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