February 22, 2024 11:34 pm
The Economy of Kazakhstan Expands by 3.9% in January

In a government meeting led by Prime Minister Olzhas Bektenov, Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov announced that Kazakhstan’s economy grew at 3.9% in January. The highest growth rates were seen in the construction sector, transport and warehousing, information and communications, and manufacturing.

Foreign trade turnover increased by 3.2% to $140 billion last year, with exports nearing $79 billion and imports exceeding $61 billion. Prime Minister Bektenov emphasized that the government’s priority task for the current year is to ensure stable economic growth at 6%.

In addition to this, the government aims to support the development of medium-sized businesses by reviewing the state support system and accelerating the conclusion of agreements with successful medium-sized enterprises. President Kassym-Jomart Tokayev’s statement about last year’s value-added tax (VAT) not being refunded to businesses was highlighted by Bektenov as a result of incorrect planning.

The government continues to prioritize containing price increases and aims to maintain inflation within the range of 6-8% this year.

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