GDP growth rate amounted to 0.7% in January-April 2021 - A.Irgaliyev

Today, at a Government meeting chaired by Prime Minister Askar Mamin, Minister of National Economy Aset Irgaliyev spoke about the results of the socio-economic development of Kazakhstan in January-April 2021.

“According to the results of January-April 2021, the GDP growth rate for the first time since March last year entered the positive zone, amounting to 0.7%. The economy of Kazakhstan is shifting to the recovery dynamics of growth,” the minister said.

According to him, sustainable growth in the real sector has become the main driver of economic development. In the reporting period of the current year, excluding the mining industry, growth in the real sector was 7.9%.

The head of the Ministry of National Economy noted the recovery of the service sector and domestic demand. There is also a dynamic and steady growth in the manufacturing industries, investment in fixed assets in the non-extractive sectors of the economy.

Strong growth continues in construction, information and communications, manufacturing, water supply, electricity and agriculture. Against the backdrop of a 5.7% growth in trade, the services sector showed positive growth.

A double-digit increase in production was recorded in mechanical engineering - 20.6%, automotive - 25.4%, production of construction materials - 26.5%, chemical products - 11.2%, plastic products - 18.5%, pharmaceuticals - 26.2%, clothes - 23.6% and furniture - 19.5%.

“The growth of investments in fixed assets, excluding the mining industry, amounted to 32.3%. The growth of the manufacturing industry accelerated to 7.7%,” added Aset Irgaliyev.

The volume of completed construction work increased by 12.5%. According to the results of January-April of this year, housing commissioning increased by 13.3%, amounting to 3.5 million square meters. m of housing.

Agriculture maintains stable growth rates. Production output increased by 3%. The greatest growth was shown by Akmola region.

The head of the Ministry of National Economy emphasized that central and local government agencies need to focus on the effective implementation of the updated Comprehensive Plan to Restore Economic Growth for 2021, the practical implementation of investment agreements with large companies in priority sectors of the economy. The priority is also the active carrying out of the season of agricultural and construction and installation works, the targeted creation of permanent jobs within the framework of the Employment Roadmap and Enbek programs, the development of new “growth points” and the strengthening of the economic connectivity of the regions.