Kazakhstan’s economy shows growth momentum

Kazakhstan’s economy keeps rapidly recovering. This is facilitated by a number of factors, including the growth of the manufacturing industry. Over the past seven months, its indicators have increased by 6 percent, Ministry of National Economy reported. The relevant department noted that the export of domestic goods and mutual trade turnover with other countries also maintain steady increase.

“From January to June of this year, foreign trade turnover amounted to US$45.3 billion. Exports reached 27 billion in American currency. At the same time, the export of processed goods increased by 25 percent to US$8.9 billion. The import of goods totaled US$18.3 billion. This ensured a positive trade balance of US$8.7 billion,” said Minister of National Economy, Asset Irgaliyev.

According to him, the GDP level in Kazakhstan increased by 2.7 percent over seven months. The rate of the real sector’s development largely influenced the growth of the country’s economy. Its rise was 3.6 percent. Among other things, the service sector aims to rehabilitate from the coronavirus crisis. The investment attractiveness of Kazakhstan is also significantly improving.

“Governors’ offices of regions should not slow down the given growth rates. In order to maintain growth momentum, it is necessary to keep diversifying the economy, attracting investments and creating jobs,” noted Kazakh Prime Minister.

Askar Mamin noted the need to stabilize prices for socially important goods in the country. He gave the corresponding instructions to the responsible persons.


Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova