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Kazakhstan shares data on SME contribution to GDP

Kazakhstan Materials 24 January 2023 17:49 (UTC +04:00)
Kazakhstan shares data on SME contribution to GDP
Emin Sevdimaliyev
Emin Sevdimaliyev
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BAKU, Azerbaijan, January 24. The share of small and medium enterprises (SMEs) in the gross domestic product (GDP) of Kazakhstan amounted to 33.5 percent in 2021, according to the report on the state of entrepreneurial activity in Kazakhstan, Trend reports, citing Akorda.

The newly issued report was presented to the Kazakh Head of State Kassym-Jomart Tokayev.

The contribution of small enterprises to the GDP amounted to 26.8 percent.

According to the report, from 2015 through 2020 the share of SMEs in the GDP increased from 24.9 percent to 32.8 percent.

The share of SMEs in GDP is expected to increase to 35 percent upon completion of the implementation of the “National Project for the Development of Entrepreneurship by 2025.

Currently, 1.4 million SMEs (a 5.5 percent growth) provide employment opportunities to 3.5 million people (a 1.1 percent growth).

Previously, President Tokayev instructed to modernize the legislative framework for the operation of the SMEs, in order to protect them from illegal inspections. Additionally, The Prosecutor General's Office approved the Comprehensive Plan of joint actions to protect businesses for 2023.

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