Categories Kazakhstan

Kazakhstan records 3.7% economic growth in 8M24

Kassym-Jomart Tokayev, the President of Kazakhstan, held a meeting with Prime Minister Olzhas Bektenov to discuss the country’s socio-economic development indicators, progress in the harvesting campaign, and preparations for the upcoming heating season.

Kazakhstan records 3.7% economic growth in 8M24

 

Prime Minister Bektenov reported that Kazakhstan experienced an economic growth rate of 3.7% from January to August. Key sectors contributing to this growth included construction (8.8%), transport and warehousing (7.9%), communications (7.4%), trade (5.5%), and manufacturing (4.9%).

In agriculture, the Prime Minister highlighted an increase in preferential financing, which has tripled to reach KZT 580bn ($1.21bn). Currently, 70.2% of the nation’s grain and leguminous crops have been harvested, totaling 17.2mn tons. Farmers are adequately supplied with preferential fuel to support their operations.

The president was also informed about the ongoing preparations for the heating season. Social facilities are ready, with residential building work 98.3% complete. Power plants require an annual coal supply of 60mn tons, and current stocks meet these standards.

Additionally, Tokayev received updates on the government’s response to recent flooding. Measures are in place to assist affected communities, with social support and compensation provided to victims. To date, 5,767 housing units have been purchased and distributed, 2,576 new homes have been constructed, and 104 sites in Akmola and West Kazakhstan regions are nearing completion as part of the Flood Prevention Plan.

At the conclusion of the meeting, President Tokayev issued several instructions aimed at further enhancing the country’s industrial potential and modernizing its infrastructure, emphasizing the need for continued progress in these areas.

 

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