Minister: Kazakhstan among top 50 countries in terms of labor productivity in total economy

"Kazakhstan's economy is gradually becoming more efficient. We've entered the world's top 50 countries in terms of labor productivity in total economy and top 20 countries in terms of labor productivity growth elbowing aside such giants as Russia and the UAE," Minister Issekeshev said at the Astana-hosted conference dedicated to the results of implementation of the 1st five-year plan of industrialization in Kazakhstan. In his words, Kazakhstan also managed to bridge the gap in terms of labor productivity in processing industry with the OECD member states. "Kazakhstan's labor productivity in processing industry grew from 29% in 2008 to 43% in 2014. If we didn't adjust tenge exchange rate in February 2014, it would have exceeded 50% by now," he added.