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Minister discloses Kazakhstan's GDP growth rate from January through April 2021

Kazakhstan Materials 12 May 2021 12:01 (UTC +04:00)
Minister discloses Kazakhstan's GDP growth rate from January through April 2021

BAKU, Azerbaijan, May 12

Trend:

Kazakh Minister of National Economy Aset Irgaliyev spoke about the results of the social and economic development of Kazakhstan from January through April 2021 at a governmental meeting chaired by Prime Minister Askar Mamin on May 12, Trend reports citing the ministry.

"The GDP growth rate for the first time since March 2020 increased, amounting to 0.7 percent from January through April 2021,” the minister said. “The economy of Kazakhstan is gradually growing."

“The sustainable growth in the real sector has become the main driver of economic development,” Irgaliyev added. “The growth in the real sector reached 7.9 percent in the reporting period of the current year, excluding the mining industry.”

The minister stressed the recovery of the service sector and domestic demand.

“There is also the dynamic and steady growth in the manufacturing industry, investments in fixed assets in the sectors of the non-extractive industry of the economy,” Irgaliyev said.

“The big growth is still observed in construction, information and communications, manufacturing industry, water supply, electricity and agriculture,” the minister added. “The sector of services showed positive growth amid 5.7-percent-growth in trade.”

A double-digit increase in production was observed in mechanical engineering - 20.6 percent, the automotive industry - 25.4 percent, production of building materials - 26.5 percent, chemical products - 11.2 percent, plastic products - 18.5 percent, pharmaceuticals - 26.2 percent, clothes - 23.6 percent and furniture - 19.5 percent.

"An increase in investments in fixed assets, excluding the mining industry, reached 32.3 percent,” Irgaliyev said. “The volume of the manufacturing industry increased up to 7.7 percent."

“The volume of the conducted construction work increased by 12.5 percent,” the minister added. “Housing commissioning increased by 13.3 percent from January through April 2021, amounting to 3.5 million square meters of housing.”

Agriculture maintains stable growth rates. The production output increased by three percent. The biggest growth was observed in the Akmola region.

Irgaliyev emphasized that the central and local state agencies must focus on the effective implementation of the renewed Comprehensive Plan for the Recovery of Economic Growth for 2021, the practical implementation of investment agreements with big companies in priority sectors of the economy.

“The active carrying out of the season of agricultural, construction and installation work, the targeted creation of permanent jobs within the "Employment Roadmap" and "Enbek" programs, the development of new "points of growth" and the strengthening of the economic connectivity of the districts are the priority,” the minister said.

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