ASTANA, Kazakhstan, March 12. Kazakhstan's economy has grown by 4.2 percent since the beginning of 2024, said Deputy Prime Minister and Minister of National Economy Nurlan Baybazarov, Trend reports.
He made the comment at a cabinet meeting presided over by Prime Minister Oljas Bektenov.
"Kazakhstan's economy has grown by 4.2 percent since the beginning of 2024. In the real sector of the economy, growth over two months of 2024 amounted to 5.1 percent, in the service sector, it was 3.5 percent," he said.
According to him, among the industries, the greatest positive dynamics were noted in construction, information and communications, transport and warehousing, as well as manufacturing. In the context of "processing" industries, production growth was achieved in mechanical engineering by 23 percent, including in the automotive industry by 21 percent, and in the production of electrical equipment by 45 percent.
"The growth rate of investment in fixed capital was 7.9 percent. The volume of investments increased in construction by 2.7 times, education by 56 percent, and transport and warehousing by 47 percent. Regionally, the best investment indicators were noted in the Kyzylorda, Turkestan, and Zhetysu regions, as well as in Astana," he said.
Baybazarov also listed a number of measures that need to be focused on to ensure further economic growth. These include attracting private investment, expanding existing production facilities, launching new production facilities, etc.
Furthermore, Kazakhstan's economic growth amounted to 5.1 percent in 2023. Last year, the volume of investments in fixed capital increased by 13.7 percent and amounted to $39.5 billion, while over the first nine months of 2023, $19.7 billion of foreign direct investment was attracted.