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Kazakhstan's economy rose by 1% by the end of 2016

8.02.2017 According to the Minister of National Economy, Timur Suleymenov, the main macroeconomic indicators maintained at a positive level in 2016, despite the impact of adverse external factors.

Early last year, the international price of the commodity markets have dropped significantly. However, despite this, the measures adopted in the framework of the state program "Nurly Zhol", sectoral programs, joint anti-crisis plan of the Government and the National Bank allowed to ensure economic growth and macroeconomic stability in the country. According to available data, GDP growth amounted to 1% in 2016.

In the past year, a positive impact on economic growth had such sectors as agriculture (5.5% growth), transport (3.8%), manufacturing (0.7%) and construction (7.9%).

The volume of investments in fixed assets by 5.1% – to 7.7 trillion tenge increased by the end of 2016. A significant increase in investment was observed in agriculture, mining, trade, as well as in real estate transactions.

At the same time, the Minister reported that in the coming year, the Office will focus on the implementation of the instructions given in the framework of the Message of President of Kazakhstan, the priority state programs and will continue to work to improve conditions for doing business.

"Based on our forecasts, we expect the economic growth of at least 2% by the end of this year. The sectors show a significant increase in mechanical engineering, mining, food production. In addition, further growth in the agriculture, construction industry, transport and logistics is expected," said T. Suleymenov.



Resourse: www.primeminister.kz







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