informkz.com

Bektenov reported to Tokayev on the current state of Kazakhstan's economy.

The failure to meet projected oil production targets has impacted the overall pace of economic development.
Бектенов проинформировал Токаева о текущем состоянии экономики Казахстана.

The President Kassym-Jomart Tokayev met with the Prime Minister Olzhas Bektenov, reports inbusiness.kz citing Akorda.

Olzhas Bektenov:

provided a report on the progress of the President's directives aimed at ensuring economic growth and improving social policy:

  • The GDP growth from January to November of this year reached 4.4%;
  • As part of the economic diversification, steady growth has been achieved in the following sectors: agriculture (13.4%), construction (10.3%), trade (8.2%), transport (8.1%), manufacturing (5.3%), including metallurgy (7.2%) and machine engineering (6.9%), chemical industry (8.4%), as well as information and communication (5.3%);
  • This year's economic growth has been entirely supported by the development of the non-oil sector (5.1%), while the failure to meet forecasted oil production figures has impacted the overall economic growth rate;

He reported that as a result of measures taken to support domestic producers and stimulate deep processing, exports of processed goods increased by 10.2%, amounting to $23.3 billion; imports decreased by 3.3%, and investments in fixed capital rose by 3.1%, with the highest growth also noted in non-resource sectors;

He presented plans for further enhancing business activity and strengthening efforts to improve the quality of life in the regions.

Kassym-Jomart Tokayev instructed to continue efforts to maintain positive trends in manufacturing, agriculture, construction, and transport. A number of directives were given concerning attracting investments, modernizing social and engineering infrastructure, import substitution, and ensuring control over the stability of prices for socially significant food products.