Deputy Prime Minister Nurlan Baybazarov announced at a government meeting presided over by Prime Minister Olzhas Bektenov that the Kazakh economy grew by 3.9 percent in January. The highest growth indicators were recorded in the construction, transport and storage, information and communication, and manufacturing sectors.
Preliminary results show that foreign trade turnover last year increased by 3.2% to 140 billion dollars, with exports close to 79 billion dollars and imports more than 61 billion dollars. Prime Minister Bektenov pointed out that the Government’s priority task for the current year is to ensure stable economic growth of 6%.
The government also aims to support the development of medium-sized businesses by revising the system of state support and accelerating the conclusion of contracts with successful medium-sized enterprises. Bektenov highlighted the statement of President Kassim-Jomart Tokaev that last year’s value added tax (VAT) was not returned to companies as a result of wrong planning.
The government continues to prioritize containing price increases and aims to keep inflation in the 6-8% range this year.