2011 economy growth estimated at 5%
11:56, 16 February 2011
ASTANA. February 16. KAZINFORM /Damir Baimanov/ Economy growth in 2011 is estimated at 5 percent, i.e. by 1.9 percent more than earlier forecast. Kazakh Minister of Economic Development and Trade Zhanar Aitzhanova made it public at the Government's sitting on Wednesday.
Nominal GDP was revised upward by KZT 2.567 trillion. "Taking into account the Ministry's forecast of growth of grain and livestock production, the volume of gross agricultural output in 2011 will increase by 5 percent, at 1.3 points above the approved rate", Z. Aitzhanova said.
According to the Ministry of Economic Development and Trade, industrial production output will raise by 4.8 percent that is 1.3 points above forecast.
Predicted growth in the mining industry by 3,5% and in processing - by 7.3% will contribute to industrial production growth as well.