ASTANA: In a national TV channel interview, Prime Minister Alikhan Smailov reported on the positive economic trends in Kazakhstan throughout the year, according to the Prime Minister\u2019s press service.<\/p>\n
Smailov reported a stable economic growth of 4.9% in the first 11 months, despite global challenges. He projected a year-end growth of around 5%.<\/p>\n
He also mentioned positive trends in all major sectors, such as construction (13%), trade (11%), and communications (8%).<\/p>\n
The Prime Minister said that investment was the main driver of economic growth, as its volume in fixed capital rose by 15% to 15 trillion tenge ($33 billion).<\/p>\n
He highlighted Kazakhstan\u2019s leadership in gross inflow of foreign direct investment (FDI) among Central Asian countries. FDI increased by 18% and reached $28 billion last year, the highest figure for the country in a decade.<\/p>\n
Smailov said that Kazakhstan\u2019s economy attracted $13.3 billion in the first half of the year. He expected nearly $27 billion by the end of 2023.<\/p>\n
He also shared President Kassym-Jomart Tokayev\u2019s initiative to double the national economy to $450 billion by 2029. He revealed plans to attract at least $25 billion of FDI every year. He added that a nationwide pool of about 1,000 investment projects worth over 32 trillion tenge ($70.2 billion) would be implemented in the future.<\/p>\n
He said that this would ensure a 6% economic growth in the medium term.<\/p>\n
Prime Minister Smailov stated that the year-end inflation rate would be 9.8%, a twofold reduction. He said that the next year\u2019s target was an inflation rate of 6-8%.<\/p>\n
The Prime Minister also praised the commitment of the private investor to allocate at least $3 billion over the next three-four years, including $1.3 billion in the coming year to the Qarmet Karagandy Metallurgical Plant.ater supply, energy supply, traffic, and gas supply issues.<\/p>\n
He said that several major projects in the country helped to address water supply, energy supply, traffic, and gas supply issues.<\/p>\n
The Prime Minister talked about the significant increase in transit traffic, with 13 international corridors, and the construction of new railway lines, including the Bakhty-Ayagoz line to increase capacity between Kazakhstan and China.<\/p>\n
He said that the transit traffic volume this year rose by 21% to 30 million tons.<\/p>\n
Smailov emphasized the ambitious railway construction plans, exceeding 1,300 kilometers in the next 3-4 years, compared to 2,500 kilometers in the past 30 years. He said that maritime transport development included building a container hub in Aktau by 2025 and launching a grain terminal in the Kuryk port, with ongoing construction of the Sarzha multifunctional terminal.<\/p>\n
He also outlined plans to construct and reconstruct 11,000 kilometers of roads, including 7,000 kilometers within the national network.<\/p>\n
Shift from raw material extraction to higher value-added industries<\/p>\n
He said that the manufacturing industry matched the mining sector in volume and continued to grow, indicating a substantial change in the industrial structure.<\/p>\n
He said that over 600 billion tenge ($1.3 billion), including preferential lending, was allocated to facilitate the implementation of new projects. He said that about 300 non-resource sector projects, valued at 1.6 trillion tenge ($3.5 billion), would be commissioned by year-end, with 170 projects worth around 800 billion tenge ($1.7 billion) specifically in the manufacturing industry.<\/p>\n
He said that over 400 projects with a total value of 4.6 trillion tenge ($10 billion) would be introduced next year. He stressed that this would accelerate the process of diversification and reduce the dependence on raw materials.<\/p>\n","protected":false},"excerpt":{"rendered":"
ASTANA: In a national TV channel interview, Prime Minister Alikhan Smailov reported on the positive economic trends in Kazakhstan throughout the year, according to the Prime Minister\u2019s press service. Smailov reported a stable economic growth of 4.9% in the first 11 months, despite global challenges. He projected a year-end growth of around 5%. He also […]<\/p>\n","protected":false},"author":2,"featured_media":10646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":""},"categories":[1766,2413],"tags":[289,1387,7846],"jetpack_featured_media_url":"https:\/\/brusselsindependent.com\/wp-content\/uploads\/2023\/12\/Kazakh.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/10645"}],"collection":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/comments?post=10645"}],"version-history":[{"count":1,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/10645\/revisions"}],"predecessor-version":[{"id":10647,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/10645\/revisions\/10647"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/media\/10646"}],"wp:attachment":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/media?parent=10645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/categories?post=10645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/tags?post=10645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}