Kazakhstan, Astana, July 3 / Trend D. Mukhtarov /
Despite the uncertainty in the global economy and in foreign markets, Kazakhstan has seen positive growth in the economy. According to preliminary estimates, GDP for the six months of 2012 rose by 5.6 per cent, Kazakh Economic Development Minister Bakhytzhan Sagintayev said.
"From the beginning of 2012, the real income grew by 12.8 per cent, real wages - 11.5 per cent. The unemployment rate in May was 5.3 per cent," Sagintayev said, speaking at the Industrial Forum in Astana on Tuesday.
He said Kazakhstan has maintained macroeconomic stability. Inflation in January-June was 2.7 per cent compared to 5.1 per cent last year. Industrial growth was 101.9 per cent whilst manufacturing industry growth was 105.7 per cent.
Investment in fixed assets since the beginning of the year, increased by 5.9 per cent.
An increase in consumer demand had a positive impact on economic growth as evidenced by the growth of the wholesale and retail trade by 14.3 per cent, transport services by 7.2 per cent and telecom services by 13.3 per cent.
The growth of housing construction was 20.8 per cent, indicating its revival. Investments in construction amounted to 134 billion tenge and 2.4 million square metres of housing were put into operation.
The financial market is experiencing growth in deposits by 14.8 per cent and loans by 17.4 per cent. International reserves of the country taking into account the National Fund from the beginning of the year, increased by $12.9 billion and amounted to $85.9 billion.