Kazakhstan's economy continues to exhibit consistent growth, even in the face of pandemic-related challenges and geopolitical dynamics. Prime Minister of the Republic, Alikhan Smailov, highlighted this during an extensive session of the "Amanat" ("Testament of Ancestors") faction, the nation's largest political party.
"Despite the pandemic's impact and challenging geopolitical factors, the economy is displaying resilient growth, thanks to effective measures. Specifically, the economic expansion reached 4.8% by the conclusion of the first seven months of this year. Positive trends are evident across all significant sectors," the head of the government is quoted by his press service.
Smailov highlighted that the GDP per capita in 2023 has elevated to $13.3 thousand, while foreign trade turnover has surged to $140 billion. "Presently, the country's international reserves are nearly $95 billion. Inflation is on a gradual decline, and by year-end, it is anticipated to be half the rate of the previous year," explained the prime minister.
As of the close of 2022, inflation in Kazakhstan stood at 20.3%, aligning with the projected range of 20-21% established by the National Bank. Kazakhstan's GDP expansion concluded 2022 at 3.1%. Authorities are anticipating economic growth to reach 4.5-5% in 2023.
On September 1, during the commencement of the regular parliamentary session, President of Kazakhstan Kassym-Jomart Tokayev is expected to deliver a message to the nation. This address is anticipated to focus on a new economic development model for the country.
GSV "Russia - Islamic World"
Photo: official website of Rais RT
Based on materials from TASS