Mon. Feb 26th, 2024
The Economy of Kazakhstan Expands by 3.9% in January

Kazakhstan’s economy grew at a rate of 3.9% in January, announced Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov at a government meeting chaired by Prime Minister Olzhas Bektenov. The highest indicators of growth were seen in the construction sector, transport and warehousing, information and communications, and manufacturing.

Preliminary results indicated that foreign trade turnover increased by 3.2% to $140 billion last year, with exports nearing $79 billion and imports exceeding $61 billion. Prime Minister Bektenov emphasized that the government’s priority task for the current year is to ensure stable economic growth at 6%.

The government also aims to support the development of medium-sized businesses by reviewing the state support system and accelerating the conclusion of agreements with successful medium-sized enterprises. President Kassym-Jomart Tokayev’s statement about last year’s value-added tax (VAT) not being refunded to businesses was highlighted by Bektenov as a result of incorrect planning.

In addition, the government continues to prioritize containing price increases and aims to maintain inflation within the range of 6-8% this year.

By Editor

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