BAKU, Azerbaijan, June 10
Trend:
Kazakh Minister of National Economy Aset Irgaliyev spoke about the results of the social and economic development of Kazakhstan from January through May 2021 at a governmental meeting chaired by Prime Minister Askar Mamin on June 10.
“The rate of economic recovery accelerated to 1.6 percent from January through May 2021,” Irgaliyev added. “The growth in the real sector, excluding the mining industry, reached 7.4 percent during five months of this year.”
The service sector continues to revive and investment activity remains high in the non-extractive sectors of the economy. The growth in the service sector accelerated to 0.8 percent amid the stabilization of domestic demand.
The growth rates accelerated in mechanical engineering by 21.1 percent, automotive industry - 26.4 percent, pharmaceutics - 25.7 percent, production of building materials - 21.4 percent, clothing - 19.3 percent, furniture - 18.2 percent and plastic products - 17.3 percent.
As for investments, the growth of investments in fixed assets, excluding the mining industry, was 25.5 percent. The highest rates are observed in construction by 2.3 times, manufacturing industry – 82 percent, information and communications -53 percent.
Irgaliyev said that the foreign trade turnover amounted to $28.1 billion, including export - $16.7 billion from January through April 2021.
At the same time, the export of processed goods increased by 16.2 percent to $5.4 billion while the import of goods amounted to $11.4 billion. This ensured a positive trade balance of $5.3 billion.
The volume of completed construction work increased by 11.3 percent during the five months of 2021. Some 4.6 million sq. m of housing were commissioned, which is by 12.5 percent more than in the same period of last year. Moreover, the volume of agriculture increased by 3.1 percent.
Irgaliyev stressed that the central and local executive bodies must focus on the active implementation of projects within the pool of investment projects, ensuring the effective implementation of tools to support entrepreneurs to preserve the macroeconomic stability of the country.
It is also necessary to strengthen the measures to increase the share of the Kazakh content in purchases, implement the projects within the "Enbek" and "Employment Roadmap" programs, dynamically monitor the prices for consumer goods and take appropriate stabilizing measures.