Pace of economic recovery in Kazakhstan for 11 months accelerated to 3.8% — Askar Mamin

At the government session chaired by Prime Minister Askar Mamin, the results of the country's socio-economic development and the execution of the republican budget were considered for January-November 2021.

Minister of National Economy Aset Irgaliyev, Chair of the National Bank Erbolat Dossaev, Minister of Finance Yerulan Zhamaubayev reported on the development of the economy, monetary policy, execution of the republican budget, local content in public procurement.

The Head of Government noted that the economy of Kazakhstan has successfully adapted to the conditions of the pandemic and demonstrates a steady growth rate. Following the results of eleven months of this year, GDP growth was 3.8%.

The real sector continues to grow steadily. Thus, the volume of production in the manufacturing industry increased by 5.2%. Growth is noted in mechanical engineering by 18.5%, incl. automotive industry by 21.3%, production of locomotives and carriages — 56.7%, building materials — 9.2%, pharmaceuticals — 27.9%, plastic products — 41.4%.

There is a recovery in the mining industry (+0.8%) due to an increase in coal production by 0.7% and metal ores by 3.9%.

Stable growth with an acceleration to 3.9% is noted in the service sector due to high dynamics in communication services (+12.9%), trade (+9.7%) and transport (+3.4%).

The construction industry grew by 6.2%. For 11 months, 13.4 million square meters of housing were commissioned in the country, which is 10.6% more compared to the same period last year.

The gradual recovery of investment growth continued, amounting to 2.6%, and excluding mining — at the level of 11.7%.

According to the results of January-November of this year, Almaty, Zhambyl, Mangystau, Pavlodar, East Kazakhstan regions, the cities of Nur-Sultan and Shymkent ensured the growth of socio-economic development for all 7 main macro-indicators, Akmola, Aktobe, Atyrau, Karaganda, Kostanay, Kyzylorda, North Kazakhstan, Turkistan regions, Almaty city — by 6 indicators, West Kazakhstan region — by 5 indicators.

The Head of Government instructed to ensure the achievement of the planned indicators of the socio-economic development of the regions by the end of the year.

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