Kazakhstan discloses GDP growth rate in January

Business Materials 12 February 2019 10:42 (UTC +04:00)

Baku, Azerbaijan, Feb. 12

By Rashid Shirinov – Trend:

Gross domestic product of Kazakhstan increased by 2.9 percent in January 2019, Trend reports via Kazakh media.

"The growth was ensured by the persistence of demand in the consumer market as well as in the extractive industries," the National Economy Minister Timur Suleimenov said at a government meeting.

He added that the slowdown in economic growth is mainly due to the decline in manufacturing and construction, as well as the slowdown in investment activity.

"In general, the effect of the high base of last year worked in all the basic industries. The inflation rate is better than in the same period of 2018. Since the beginning of this year, it has been 0.5 percent, and 5.2 percent year-on-year," Suleimenov said.

The minister added that in January this year, investment in fixed assets decreased by 2.5 percent.

"The decline is associated with the completion of modernization and reconstruction of the Shymkent Oil Refinery and the Aksu Ferroalloy Plant," Suleimenov explained.


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