At the government session chaired by the Prime Minister of the Republic of Kazakhstan Askar Mamin, the results of the country's socio-economic development and the execution of the republican budget for January-November 2021 were considered. Minister of National Economy Aset Irgaliyev reported on the development of the economy.

In January-November of this year the growth rate of the economy of Kazakhstan accelerated to 3.8%. During the reporting period, the main trends are accelerating growth in the service sector, stable growth rates in the real sector, strengthening of the trade balance due to high export growth rates, high investment activity in non-extractive industries.

According to the minister, in January-November 2021, the growth in the real sector amounted to 2.9%. Business activity in the service sector rose to 3.9%. Among the industries, high growth rates are demonstrated by information and communications, trade, water supply, construction, power supply, and manufacturing.

Attraction of domestic and foreign investments remains an important factor of economic growth. At the same time, non-extractive industries remain an attractive area for investment.

“For 11 months of this year, the growth rate of investments in fixed assets amounted to 2.6%, including the growth dynamics of investments in fixed assets, excluding the mining industry, amounted to 11.7%. Thus, investments increased in construction by 2.1 times, manufacturing industry — by 50.5%, agriculture — by 40.5%, trade — by 34.2%, real estate transactions — by 18.6% and financial activities — by 14.2%. In the regional context, the best indicators are observed in the cities of Shymkent and Almaty, as well as in Aktobe and Pavlodar regions,” Irgaliyev said.

In January-October of this year foreign trade turnover increased by 14.1% and amounted to $82.2 billion. Including, the export indicator increased by 23.5% and amounted to $49.1 billion. At the same time, the export of processed goods increased by 24.4% to $15.5 billion. Imports of goods amounted to $33.1 billion.

In general, the positive trade balance increased by $2.2 billion compared to the previous month and amounted to $16 billion.

As the Minister of National Economy noted, the manufacturing industry maintains a steady growth trend. For January-November of this year production volume increased by 5.2%. 15 regions showed positive growth. The largest increase is noted in the city of Almaty, Almaty and Kyzylorda regions.

In the context of manufacturing industries, a dynamic growth in the production of mechanical engineering products was ensured — by 18.5%, including the automotive industry — by 21.3%, the production of cars and locomotives — by 56.7%, building materials — by 9.2%, finished metal products — by 18.1%, plastic products — by 41.4%, pharmaceutical products — by 27.9%, furniture — by 9.7%, clothes — by 8.7%.

In the mining industry, growth continues to recover. In the reporting period, the volume of production in the industry increased by 0.8%.

In the context of subsectors, production in the extraction of metal ores increased by 3.9%, the provision of services in the mining industry — by 1.8%, coal mining — by 0.7%.

In the production of crude oil, gas and other minerals, negative indicators remain.

“Over the past 11 months, the construction sector has shown high growth rates and the volume of completed construction work has grown by 6.2%. The positive growth of the indicator was recorded in 15 regions. The greatest growth in construction and installation work is noted in Almaty, as well as in Mangystau and Akmola regions,” Irgaliyev noted.

On the whole, positive dynamics remain in terms of housing commissioning. For January-November of this year, 13.4 million sq. m of housing were commissioned. The growth of the indicator was 10.6%. Positive dynamics was recorded in 15 regions, among which the highest rates are observed in Shymkent, as well as in East Kazakhstan and Kostanay regions (in Mangystau region, the level of the previous period is preserved).

In agriculture, in the reporting period, a decrease in output by 2.5% was recorded. The lowest rates are observed in Kostanay, North Kazakhstan and Akmola regions.

Production growth in the industry was recorded in 11 regions. The greatest growth was shown by Pavlodar and East Kazakhstan regions.

According to the minister, the general situation in the regional context by 7 economic indicators is as follows.

By all indicators, positive growth is noted in 7 regions — Almaty, East Kazakhstan, Zhambyl, Mangystau and Pavlodar regions, as well as in the cities of Shymkent and Nur-Sultan.

According to 6 indicators, growth is observed in 9 regions.

These are the city of Almaty, as well as Akmola, Aktobe, Atyrau, Karaganda, Kostanay, Kyzylorda, North Kazakhstan and Turkistan regions.

In addition, according to 5 indicators, positive growth is observed in the West Kazakhstan region.

Central and local executive bodies are encouraged to focus on the following measures.

1. Maintaining a stable epidemiological situation, promptly responding to business requests to support business activity.
2. Prevention of seasonal growth in prices for socially significant goods and control over the effectiveness of the implementation of the Anti-inflationary Response Package.
3. Ensuring high rates of production growth in the manufacturing and mining industries.
4. Actively promoting the achievement of high export performance in major industries and areas.
5. Control over the effective implementation of government measures to support employment, increasing the share of permanent employment.

Full implementation of the above measures will accelerate economic growth in the country.