Kazakhstan’s economy to grow at least 5.3% in 2024

Kazakhstan’s economy to grow at least 5.3% in 2024

Kazakhstan’s economy successfully adapted to new conditions and embarked on a new path of sustainable development. According to the forecast published by the Kazakh government, a growth rate of at least 5.3 percent is expected for the current year. This indicator exceeded five percent in 2023. Positive dynamics are observed in all key sectors, with growth in construction, trade and industry at more than 13, 11 and four percent respectively, while in information and communication at 7.1 percent, and transport at about seven percent. Investments in fixed assets increased by almost 14 percent. The volume of foreign direct investments reached around $20 billion, with the majority of funds directed to non-primary sectors. Foreign trade turnover, which reached $126 billion in the first 11 months of 2023, is growing as well. The country’s international reserves have reached $96 billion, with assets of the National Fund exceeding $60 billion. The government continues to implement tasks outlined by President Kassym-Jomart Tokayev in his election campaign and addresses to the people, where attracting investments is one of the crucial points.