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Kazakhstan’s economic growth hit 4.1% in the first half of 2019

15 July 2019 16:22

NUR-SULTAN. KAZINFORM Today’s extended Government meeting chaired by President of Kazakhstan Kassym-Jomart Tokayev following the results of the first half of 2019 focused on the acceleration of the rate of economic growth from 2.9% to 4.1%, the PM’s press service reports.

«The key growth drivers are industry, construction, transport, trade and agriculture sectors. The processing industry reports growth due to pharmaceuticals, machine building, oil processing, non-ferrous metal industry, light industry and beverage production. 14 regions report industrial growth,» PM Askar Mamin said.

The PM noted that it is necessary to attract investments into equity up to KZT 30 tn within five years to provide sustainable economic growth and create new workplaces. Besides, he noted that the priority of the Government’s efforts is the settlement of pressing social issues.

According to him, the unemployment rate in the first half of the year decreased to 4.8%. 186,000 workplaces were created. Microlending increased this year up to KZT 85 bln to cover 19,000 people. Grants for realization of new business ideas will increase up to KZT 18 bln to embrace above 37,000 people. Social spending expanded up to KZT in 2019 at large. The PM also added that the Government will take all necessary steps to realize social measures.