ASTANA, Kazakhstan, November 13. GDP growth in Kazakhstan is expected to reach five percent by the end of 2023, Alibek Kuantyrov, Minister of National Economy of Kazakhstan said, Trend reports.
Kuantyrov informed the President of Kazakhstan Kassym-Jomart Tokayev about the preliminary results of the country’s socio-economic development for 10 months of this year.
In the first half of the year, the volume of foreign direct investment reached $13.3 billion. Annual inflation decreased by two times to 10.8 percent (in February of this year, 21.3 percent).
Kuantyrov noted that the share of small and medium-sized businesses in GDP reached a record 36.4 percent. The production of small and medium-sized businesses exceeded 28 trillion tenge (about $60 billion), and the number of people employed in SMEs was 4.3 million. In 2023, 9,000 projects were subsidized, for a total of 669 billion tenge (about $1.43 billion).
The minister pointed out that in order to reduce business inspections by two times, a new regulatory policy in the field of entrepreneurship will be introduced.
Alibek Kuantyrov also provided information on the development of new budget and tax codes, investment policies, and the development of public-private partnerships.
In addition, the minister reported on the progress of the "Tariff in exchange for investment" program. In particular, in 2023, it is planned to attract 267 billion tenge (about $571 million), repair 5,800 km of networks, increase wages for housing and communal services workers by 50 percent, and reduce the wear and tear of networks by 3.2 percent.
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