BAKU, Azerbaijan, Apr. 20
Trend:
Kazakhstan’s Government considered the revised forecast of the country’s socio-economic development for 2021-2025 and the state budget for 2021-2023 at a meeting chaired by Prime Minister, Askar Mamin, Trend reports referring to the press service of the government.
According to the press service, Minister of National Economy, Asset Irgaliyev, Minister of Finance, Yerulan Zhamaubayev, and First Deputy Prime Minister, Alikhan Smailov, made reports.
Given the operational data on the growth of the economy of Kazakhstan since the beginning of the year and the situation on world commodity markets, as well as forecasts of the growth of the world economy, the Government has clarified the indicators and indicators of the forecast of socio-economic development for 2021.
So, the forecast for the country's economic growth in 2021 has been improved from 2.8 percent to 3.1 percent. The oil price is projected at $50 per barrel (previously $35), and the national currency rate - 425 tenge per dollar (previously 420 tenge). The forecast indicators in the processing industry were improved from 4.1 percent to 5.2 percent due to more active growth in metallurgy production amid the recovery in external demand.
In construction, the forecast has been improved from 2.5 percent to 5 percent due to the planned commissioning of 17 million square meters of housing. The information and communications sector has been forecasted to increase from 3.8 percent to 6.5 percent as a result of the growth in demand for IT services.
According to the National Bank's forecast, exports will increase by $10.8 billion to $52.2 billion. The inflation forecast has remained in the previously approved corridor of 4-6 percent.
Based on the revised macroeconomic forecast, the forecast of the parameters of the state budget for 2021 has been updated. The main directions of expenditures of the revised budget for the current year are to ensure the implementation of the Nur Otan party program and the message of the Head of State to the people of Kazakhstan dated September 1, 2020.
Besides, the costs will be spent on financing measures to combat the COVID-19 pandemic and modernizing the health care system, as well as stimulating the real sector of the economy.
The Prime Minister instructed to submit the forecast of the socio-economic development of Kazakhstan and a draft law on the revised state budget for 2021-2025 to the Parliament.