BAKU, Azerbaijan, November 25. The share of the construction sector in the GDP of Kazakhstan is around 6 percent, however, it is necessary to improve this indicator, Olga Perepichina, Deputy Сhair of the Senate Parliament of Kazakhstan said, Trend reports via Kazakh media.
Perepichina pointed out the importance of sustaining the growth rate of the construction sector as it is directly correlated with the degree of competitiveness of national economy.
The deputy chair added that according to the UN-provided data, the share of the construction sector in total GDP accounted for around 8 percent in 2010. Today, Kazakhstan lags behind several CIS countries and Baltic States.
At the same time, Kazakhstan has to address the ongoing housing issue in the country, which remains below the UN standards, Perepichina added.
Meanwhile, the index of business activity in construction, formed by the National Bank of Kazakhstan, in September this year decreased from 50.21 in December 2021 to 46.25 percent.