ASTANA – Kazakhstan’s GDP grew by 4% during the first three quarters of 2024, driven by the development of the non-resource sector, Prime Minister Olzhas Bektenov said during the meeting with President Kassym-Jomart Tokayev on Oct. 17.
Kassym-Jomart Tokayev receives Olzhas Bektenov. Photo credit: Akorda
According to a press statement from Akorda, the strongest growth was seen in agriculture, which surged by 11.4%. This was followed by construction at 10.1%, transport at 8%, communications at 6.4%, trade at 6.3%, and manufacturing at 4.8%.
Kazakhstan’s foreign trade turnover from January to August reached $91.7 billion, while the share of exports increased by 3.3%. The positive trade balance grew by 34.8% to $15.4 billion.
The state budget has received 14.9 trillion tenge (US$30.4 billion), with social obligations remaining a priority in government expenditures. Bektenov also updated Tokayev on the ongoing efforts to return illegally acquired assets. Since the beginning of the year, the relevant committee has approved agreements on the return of assets worth nearly 450 billion tenge (US$919.8 million).
So far, assets valued at 265 billion tenge (US$541.7 million) have been recovered, including 177 billion tenge (US$361.8 million) in monetary terms. These funds are allocated toward socially significant projects, including rehabilitation and socialization programs for persons in need, and the construction of a cultural and educational center and a sports arena.
The President was briefed on the recent meeting of the Shanghai Cooperation Organization’s Council of Heads of Government in Islamabad. He emphasized the importance of boosting Kazakhstan’s economic growth through diversification, supporting small and medium-sized businesses, developing innovation in agriculture, and implementing large industrial and infrastructure projects.
