Investments in financial and insurance sector in Kazakhstan down
Baku, Azerbaijan, Oct. 5
The investments in fixed assets of the financial and insurance sector of Kazakhstan for January-August 2018 has amounted to 37.1 billion tenge, which is 11.5 percent less than a year earlier. For comparison, in the same period of 2017, 41.9 billion tenge was invested in this sector.
At the same time, the total volume of capital investments in the Republic of Kazakhstan for eight months has increased by 33 percent year-on-year, reaching 6.4 trillion tenge, the Kazakh media reported October 4.
It is noted that the financial and insurance activities account just for 0.6 percent in the composition of investments made in all sectors of economy. In recent years, in general, the share of investments in this field of activity did not exceed one percent.
Almaty city is the leader in terms of volume of investments. Some 69.9 percent (25.9 billion tenge) of all investments in this area have been concentrated in the southern capital. It is followed by Astana city with 13.5 percent, or 5 billion tenge (in 2017 - 4.4 billion tenge).
Kyzylorda region closes the list of TOP-3 regions with greatest investments, where 1.3 billion tenge were invested in the development of the financial sector in January-August 2018, which is 12.5 times more than the investments made in the same period last year. The total share of the three listed regions has amounted to 87 percent, or 32.3 billion tenge.
The main source of capital investment funding is own funds of the business sector, which in the first eight months of the current year accounted for almost all 100 percent of investments in the finance and insurance sector (and just 0.04 percent have fallen to the share of the borrowed funds).
In the same period of 2017, the investments made at the expense of own funds of business sector amounted to 41.2 billion tenge (98.4 percent). The investments made at the expense of the borrowed funds and bank loans amounted to 681.8 million tenge.