Kazakhstan's economic growth reached 4.9% in the first quarter of 2023

To date, the national economy has adapted to the unfavorable external conditions and entered the path of stable growth.

Despite the difficult external situation, in 2022 the real growth of the economy amounted to 3.2%. The country attracted 28 bln. USD in foreign direct investment, ensuring an 18 percent growth. The real volume of investment in fixed assets increased by 8 percent. The foreign trade turnover grew by 32 percent and reached 134 bln. USD. The number of working small and medium-sized businesses increased by 27 percent, to more than 1.8 million units. The total number of people employed in this sector grew by 13 percent and reached 3.9 million people. As a result, the share of SMEs in the economy was already 36% (33.5% in the previous year).

In January-March, the real growth of GDP amounted to 4.9%. Positive dynamics is formed in all main directions:

in construction the growth was recorded by 16%;

in trade - by 12%;

in the transport sector - by 8%;

in the processing industry - by 5,4%.

In three months, fixed capital investment increased by 16% and state budget revenues by 24%.

This allowed to allocate additional 2.2 trillion tenge for social payments, development of health, education, real economy and infrastructure.

Kazakhstan's international reserves amounted to 94 bln. USD. In particular, assets of the National Fund increased from the beginning of the last year by 3 bln. USD and reached amount of 58 bln. USD.

International rating agencies confirmed the investment rating of Kazakhstan, and Standard & Poor's agency improved its forecast for our economy in March of this year.