Baku, Azerbaijan, Dec. 11
By Rashid Shirinov – Trend:
For the last three months, Kazakhstan has maintained a steady GDP growth of 4.1 percent, the National Economy Minister Timur Suleimenov said at a government meeting, Trend reports citing the Kazakh media.
"The main factors of economic growth were high investment and consumer demands, as well as production activity in the basic sectors of the economy. At the same time, the inflation rate remains within the band of 5-7 percent," the minister said.
He added that inflation was 0.9 percent in November, 4.6 percent since the beginning of the year, and 5.3 percent year-on-year.
Suleimenov said that investments in fixed assets continue to play a key role in economic growth. For 11 months of this year, investments increased by 18.3 percent.
"As of November 1, Kazakhstan’s international reserves amounted to $85.5 billion. At the same time, the assets of Kazakhstan National Fund showed an increase of 0.1 percent to $56.5 billion," the minister said.
He also added that there is a positive growth rate of 4.5 percent in Kazakhstan’s industry, but a number of industries, such as the production of building materials and beverages, have reduced the output.
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