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Kazakhstan's GDP growth accelerated to 4.3%

10 September 2019 10:00

NUR-SULTAN. KAZINFORM - Ruslan Dalenov, National Economy Minister, has announced the growth rate of the gross domestic product, Kazinform correspondent reports.

According to him, in August of the current year the country’s economy maintained steady dynamics. Over 8 months the GDP growth accelerated to 4.3% (4.2% in January-July). Thus, all international rating agencies including S&P, Fitch and Moody's have confirmed Kazakhstan's sovereign credit rating at the level of investment attractiveness.

As noted by Mr.Dalenov, the main factors of the economic growth were investment activity and stable inflation.

He added that the investment growth was 10.7%. The largest increase was noted in agriculture (by 57.1%), construction (by 30.9%), trade (by 20.4%) and industry (by 17.7%). It is notable that the annual inflation index is within the target corridor and amounted to 5.5%.

As noted by the press service of the Ministry, food prices rose by 9% (August 2018 - 5.1%), non-food products - by 5.7% (8.2%), paid services - by 0.8% (4.9%).

Keywords: Economy,