Kazakhstan’s GDP growth reaches 6%, PM
Addressing the joint sitting of the Parliament’s Chambers, the Prime Minister of Kazakhstan revealed how fuel price liberalization affected the country’s economy, Kazinform News Agency reports.
He said this year's economic growth dynamics are quite positive. “The GDP growth reached 6% over the past five months. In our opinion, one of the key indicators is the volume of capital investments. For the past five months, it exceeded 18%,” the Prime Minister said.
He also outlined the sectors that recorded the most growth over five months.
The growth was seen in the construction sector, over 15%. The highest growth was reported in the sphere of transportation and warehousing, exceeding 23%. The manufacturing sector demonstrated 6% growth rates, trade 8%, the Prime Minister said.
He also noted that liberalization of the fuel market has a positive impact. Since the Government for many years adjusted fuel prices and the prices never reflected true market conditions, the Government embarked on a course of price liberalization. These efforts have already begun to yield results. Investments are gradually returning to this area. Previously, it was an unattractive investment destination. Now private business sees that the state has moved to price liberalization, the PM concluded.
Earlier, Olzhas Bektenov announced the Baiterek Holding will channel 8 trillion tenge in the economic development of Kazakhstan.
