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Inflation falls to lowest in recent years, National Economy Minister says

13 March 2018 12:48 83

ASTANA. KAZINFORM According to the Minister of National Economy, Timur Suleimenov, in the first two months of 2018, Kazakhstan's economy grew 4%.

The Minister stressed the steady growth dynamic in early 2018, noting that the targets on the key indicators were met. Thus, GDP growth was marked at 4% compared to 2.5% in 2017.

According to Mr. Suleimenov, this became possible due to the growth of the manufacturing industry and the service sector, as well as the increase in investment and domestic consumption.

Timur Suleimenov also noted that the inflation slowed, amounting to 1.3%, which is the lowest in recent years. The annual inflation rate, according to the Minister, is 6.5%.

According to the Minister's report, in the first two months of 2018, the country's international reserves increased by 2% to $90.8 billion. Gold and foreign exchange reserves grew by 2.2% to $31.4 billion, and the assets of the National Fund increased by 1.8% to $59.4 billion.