BAKU, Azerbaijan, Sept. 14
Trend:
The results of the socio-economic development of Kazakhstan and the execution of the state budget for the period from January through August 2021 were considered at the meeting of the Government, Trend reports citing the Kazakhstan government.
During the meeting, Minister of National Economy of Kazakhstan Asset Irgaliyev provided detailed information about the development of the economy, monetary policy, execution of the state budget, local content in public procurement.
“In the reporting period, within the main trends, there has been positive growth in the real sector and the service sector, high growth in investments in non-extractive sectors, and the maintenance of a positive trade balance. The real sector continues to be a factor in the stability of economy,” Irgaliyev said.
“From January through August 2021, growth in the real sector amounted to 3.5 percent. Business activity in the service sector rose to 2.3 percent. Among the sectors of the economy, high growth is demonstrated by information and communications, construction, trade, water supply, power supply, and manufacturing sectors,” the minister said.
“There is also positive growth in agriculture. The attraction of domestic and foreign investment is an important factor in economic growth. In particular, there is an activity in attracting investment in non-extractive industries,” the official added.
“In this regard, for the reporting period, the growth rate of investments in fixed assets, excluding the mining industry, amounted to 18 percent. Investments increased in construction by 2.5 times, manufacturing industry - by 81.7 percent, agriculture - by 43.2 percent, trade - by 39.9 percent, information and communications - by 37 percent, real estate transactions - by 16.2 percent and transport - by 9 percent,” Irgaliyev said.
“In the regional context, the best indicators are observed in the city of Shymkent, Aktobe, North Kazakhstan, Turkestan and Zhambyl regions. From January through July 2021, foreign trade turnover amounted to $53.7 billion, including the export indicator, amounted to $32 billion,” the minister added.
“At the same time, the export of processed goods increased by 23.4 percent to $10.4 billion. Imports of goods amounted to $21.7 billion. In general, the trade balance remained at a positive level, making up $10.4 billion. The manufacturing industry maintains a steady growth dynamic. The production volume increased by 5.8 percent. Some 14 regions showed positive growth. The largest increase is noted in Almaty, Almaty and Kyzylorda regions,” Irgaliyev stressed.
“In the context of manufacturing industries, a growth dynamic was recorded in the production of pharmaceutical products by 40.8 percent, mechanical engineering products - by 23.9 percent, including the automotive industry - by 34.2 percent, the production of cars and locomotives - by 48.9 percent, building materials - by 11.6 percent, plastic products - by 26.5 percent, finished metal products - by 18.6 percent, clothes - by 16.3 percent and furniture - by 16 percent. The construction sector demonstrates high rates. For the first 8 months of this year, the volume of completed construction work increased by 11.4 percent,” said the official.
“In the agriculture sector of the country, the growth was 2 percent. Positive dynamics is observed in 14 regions. The greatest growth was shown by Akmola, Pavlodar and Karaganda regions,” the minister added.