Lending to mining industry in Kazakhstan up by 10%

Business Materials 13 December 2018 16:18 (UTC +04:00)

Baku, Azerbaijan, Dec. 13

By Rashid Shirinov – Trend:

At the end of October 2018, lending to the industry in Kazakhstan reached almost 2 trillion tenge, Trend reports with reference to Energyprom.kz.

Almost 65 percent or 1.2 trillion tenge of lending traditionally accounted for the manufacturing industry. The mining industry accounted for 21.3 percent or 407.2 billion tenge, while other industries’ share was 14 percent or 269 billion tenge.

Compared to October 2017, lending to the mining industry increased by 10.2 percent, while loans to the manufacturing industry rose by just 0.2 percent, and lending to other industrial sectors, on the contrary, decreased by 5.2 percent.

In October 2018, the highest rates of annual growth in lending within the manufacturing industry were in the metallurgical industry (37.4 percent up, to 305.2 billion tenge), the production of textiles and clothing (24.2 percent up, to 33.3 billion tenge) and production of vehicles (21.6 percent up, to 74.4 billion tenge).

(370.11 KZT = 1 USD on Dec. 13)


Follow the author on Twitter: @ShirinovRashid