Economic growth in Q1 2020 amounts to 2.7%, PM Mamin

The session was attended by Minister of National Economy R. Dalenov, Chairman of the National Bank Y. Dossayev, First Deputy Prime Minister and Minister of Finance A. Smailov, NWF Samruk Kazyna JSC chairman A. Yessimov, Minister of Industry and Infrastructure Development B. Atamkulov, Energy Minister N. Nogayev, Akims of Kostanay, Almaty and Aktobe regions A. Mukhambetov, A. Batalov and O. Urazalin.

In January-March of the current year GDP growth amounted to 2.7% compared to the corresponding period of 2019. Investments in fixed assets have increased by 5.1%. Gold and foreign exchange reserves have reached USD30 billion, assets of the National Fund - USD57.5 billion. The basic sectors of the country have shown positive dynamics. Thus, growth in the mining industry amounted to 5%, manufacturing - 8.8%, construction - 11.7%, and engineering - 30.4%. At the same time, the restrictions associated with the pandemic have impacted some sectors of economy. Thus, in the first quarter of this year growth in trade has equaled to 1%, in financial sector and insurance services - 0.7%, and transport sector’s dynamics has decreased by 1.3%.

According to Ruslan Dalenov, Minister of National Economy, in January-March 2020 six regions including Akmola, Aktobe, Karaganda, Kostanay, North Kazakhstan, East -Kazakhstan have demonstrated good results in mining, processing, agriculture, construction, housing delivery, investment and inflation.

The Prime Minister noted that in response to current challenges in the global and regional economies, the Government has adopted and is implementing a set of anti-crisis measures.

In conclusion Prime Minister Mamin instructed to ensure control over the implementation of anti-crisis measures in the regions in compliance with strict sanitary and epidemiological measures.