Kazakhstan’s economic growth reaches 4% in Jan-Sep
Deputy Prime Minister - National Economy Minister of Kazakhstan Nurlan Baibazarov reported on the country’s socioeconomic development and execution of the republican budget in January-September this year, Kazinform News Agency reports.
He added the country’s economy grew by 4%.
The minister said thanks to the taken measures Kazakhstan saw economic growth acceleration for the third month in a row. Real sector growth reached 5%, and production in the services sector rose by 3.8%. This year's economic growth is driven by the development of the non-resources sector with the most growth seen in agriculture and construction. Transport services increased by 8%, communications by 6.4%, trade by 6.3%, processing industry by 4.8%.
He noted that 65% of the GDP growth is fueled by trade, the processing industry, construction, and agriculture.
Capital investments rose by 0.6% with the most growth observed in non-resource-based sectors. Investments in communications services grew by 81.7%, by 79.3% in education, by 31.1% in transport, by 6.3% in the processing industry, and by 4.8% in healthcare.
The minister stressed Karaganda, Kyzylorda, Pavlodar, Turkistan, East Kazakhstan, and Almaty regions as well as Astana and Shymkent demonstrated the best growth indicators.
Earlier Baibazarov said Kazakhstan’s GDP growth was expected to reach 5.6% in 2025.
