• Tue. Mar 5th, 2024

Kazakhstan’s Economy Thrives in 2021: Prime Minister Olzhas Bektenov Reveals Growth Rates and Plans for Stable Growth in 2022

ByEditor

Feb 13, 2024
The Economy of Kazakhstan Expands by 3.9% in January

Prime Minister Olzhas Bektenov announced at a government meeting that Kazakhstan’s economy grew by 3.9% in January, with the highest growth rates seen in the construction sector, transport and warehousing, information and communications, and manufacturing. Preliminary results showed that foreign trade turnover increased by 3.2% to $140 billion last year, with exports nearing $79 billion and imports exceeding $61 billion.

The government’s priority for the current year is to ensure stable economic growth of 6%, as emphasized by Prime Minister Bektenov. The government also plans to support the development of medium-sized businesses by reviewing the state support system and accelerating the conclusion of agreements with successful 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 to promoting economic growth, the government is also focused on containing price increases and aims to maintain inflation within the range of 6-8% this year.

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