The Economy of Kazakhstan Expands by 3.9% in January

Kazakhstan’s Economy Continues to Thrive with Growth of 3.9% in January

Prime Minister Olzhas Bektenov announced at a government meeting chaired by him that Kazakhstan’s economy grew at a rate of 3.9% in January. The highest growth sectors were seen in construction, transport and warehousing, information and communications, and manufacturing.

According to preliminary results, foreign trade turnover increased by 3.2% to $140 billion last year, with exports nearing $79 billion and imports exceeding $61 billion. Bektenov emphasized that the government’s priority task for the current year is to ensure stable economic growth at 6%.

In addition to this, the government aims to support the development of medium-sized businesses by reviewing the state support system and accelerating the conclusion of agreements with successful medium-sized enterprises. President Kassym-Jomart Tokayev’s statement about last year’s value-added tax (VAT) not being refunded to businesses was highlighted by Bektenov as a result of incorrect planning.

The government continues to prioritize containing price increases and aims to maintain inflation within the range of 6-8% this year.

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