GDP growth rate increases in Kazakhstan
Baku, Azerbaijan, Feb. 13
By Ali Mustafayev – Trend:
GDP growth in Kazakhstan in January 2018 amounted to 4 percent, which exceeds the same indicator of 2017 by 1.6 percent, said the Minister of National Economy of Kazakhstan Timur Suleimenov at a government meeting on Feb. 13.
"The main sources of growth are the expansion of output in the industrial sectors, increased investment demand and sustainable recovery of domestic consumption," Suleimenov said, Kazakh media outlets reported.
The macroeconomic environment of the country is being strengthened by the slowdown in inflation processes, according to the minister.
"Since the beginning of the year, the inflation rate amounted to 0.6 percent, which is the lowest value, reported after the transition to the inflation targeting regime. In annual terms the inflation rate amounts to 6.8 percent," he added.
During the first month of 2018, Kazakhstan's international reserves increased by 1.1 percent to $90.1 billion, including gold and foreign currency reserves - by 3.2 percent to $31.7 billion, while the assets of the National Fund remained at the level of 2017.
In view of outstripping growth in the manufacturing industry and higher growth in service areas, the contribution of the non-primary sector of Kazakhstan’s economy has increased to 71 percent in GDP growth against 60 percent in 2017.