ASTANA – Kazakhstan’s business activity index, based on surveys conducted by the National Bank, rose to 51.6 points by the end of November, according to National Bank Chair Timur Suleimenov, who spoke at a government meeting on Dec. 17.
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Suleimenov noted that the index has remained positive for nine consecutive months. The services sector index stood at 51.5 points, while the production sector index reached 53.1 points. The business climate index also improved in November, reflecting optimistic assessments of current and future business conditions, reported the Prime Minister’s press service.
“Annual inflation by the end of November was 8.4%. Disinflation of food products has a restraining effect on inflation. However, over the previous month, it has accelerated to 5.4%. Prices for non-food goods are increasing at a slower pace of 8%. The highest inflation rate continues to be seen in paid services, at 13.3%,” Suleimenov said.
Gross international reserves reached $105 billion at the end of November, marking a 9.5% increase since the beginning of the year. The National Bank’s gold and foreign exchange reserves have climbed by 23% during the same period, totaling $44.2 billion. The National Fund’s assets grew by 1.3% to $60.8 billion. Since January, the fund has received 3.7 trillion tenge (US$7 billion), while payments to the national budget totaled 5.3 trillion tenge (US$10.1 billion). The National Fund’s investment income for January through November was 9.5%, or $5.7 billion.
“The pension fund’s assets continue to show positive dynamics. Since the beginning of the year, pension assets have increased by 22.7% to 21.8 trillion tenge (US$41.6 billion). The volume of investment income since the beginning of the year reached 2.8 trillion tenge (US$5.3 billion). Pension contributions increased by 19% compared to 2023 and totaled 2.3 trillion tenge (US$4.4 billion). Early withdrawals amounted to 495.6 billion tenge (US$946.5 million),” Suleimenov said.
