Kazakhstan's Economy Ministry declares GDP growth in 2018
Baku, Azerbaijan, Jan. 15
By Rashid Shirinov – Trend:
According to preliminary data, GDP growth in Kazakhstan in 2018 was 4.1 percent, Trend reports referring to the Kazakh media.
"The main factors of economic growth are high investment and consumer demand, as well as production activity in the basic sectors of economy," the National Economy Ministry said in a message.
At the same time, the inflation rate remains within the range of 5-7 percent. In November 2018, inflation was 5.3 percent year-on-year.
Investments in fixed assets continue to play a key role in economic growth. For 11 months of 2018, their volume increased by 18.3 percent.
İt should be noted that Kazakhstan's GDP growth forecast for 2019 has been lowered to 3.8 percent instead of the previously declared 3.9 percent.
"Real GDP growth will be 3.8 percent in 2019. The average annual GDP growth rate (for 2019-2023) will be 4.1 percent. Nominal GDP will grow from 64 trillion tenge in 2019 to 86.5 trillion tenge in 2023," the National Economy Minister Timur Suleimenov said earlier.
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