Kazakhstan sees acceleration in economic growth

Kazakhstan Materials 12 April 2022 16:16 (UTC +04:00)
Nargiz Sadikhova
Nargiz Sadikhova
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BAKU, Azerbaijan, April 12. The primary indicators of Kazakhstan’s economic growth in the first quarter of 2022 were announced by Minister of National Economy of the Republic of Kazakhstan Alibek Kuantyrov, Trend reports citing the Government of Kazakhstan.

“The growth rate of the Kazakh economy accelerated to 4.4 percent from January through March 2022. During the reporting period, we can observe a strong growth in the real sector, a progressive increase in exports, a steady dynamics in the service sector,” Kuantyrov said.

According to him, growth in the real sector reached 5.9 percent.

“Business activity in the service sector rose to 2.8 percent. Among the industries, positive growth is demonstrated by transport, construction, trade, water supply, manufacturing, information and communications, mining, and agriculture. The rate of increase of fixed capital investments amounted to 1.5 percent. The growth of fixed investments, excluding the mining industry, totaled 0.6 percent,” the minister said.

“Investments in construction have grown by 2.2 times, education – by 2.2 times; public administration, social security – by 78.5 percent. At the regional level, the best indicators are noted in the Shymkent city, as well as in Akmola and Pavlodar Regions,” Kuantyrov added.