World Bank: Kazakhstan ranks high in investment activity
According to World Bank data, Kazakhstan ranks among countries with a high level of investment activity, Qazinform News Agency quotes Vice Minister of National Economy Arman Kassenov as saying during a government session in the Senate.
According to him, the World Bank estimates Kazakhstan’s gross capital formation-to-GDP ratio at 27%.
“With this figure, Kazakhstan ranks above 75% of countries worldwide. Under another indicator — the ratio of gross fixed capital formation to GDP — the country stands at 24%, exceeding the level recorded in 68% of countries globally. Outperforming much of the world on these metrics suggests that Kazakhstan will be able to maintain strong economic growth rates going forward,” he said.
He noted that economic growth is directly linked to investment, as investments create additional production capacity and provide the foundation for further economic expansion.
At the same time, the vice minister emphasized that authorities intend to continue increasing investment to strengthen the economy and improve citizens’ well-being.
“There is another, more targeted indicator that focuses solely on fixed capital investment. Currently, the ratio of fixed capital investment to GDP in Kazakhstan stands at 14%. Our goal is to increase this figure to 23%,” he added.
Earlier, Qazinform News Agency reported that the World Bank Regional Manager had stated that Kazakhstan is emerging as an ‘environmental diplomat’ in Central Asia.
