The Kazakh government is committed to achieving a 6% economic growth rate
Kazakh Prime Minister Olzhas Bektenov announced his government’s commitment to make every effort to ensure the country’s economic growth at 6% despite the difficult geopolitical environment and the current situation among the main trading partners during a June 21 joint meeting of the Parliament’s chambers.
According to Bektenov, the construction, transport, and communications sectors are showing growth rates of 8%, as reported by the Prime Minister’s press service. These sectors are rebounding from a previous decline caused by extensive floods.
Bektenov highlighted construction, infrastructure, processing, and the agro-industrial complex as pivotal areas for economic growth, which will receive prioritized support.
The government is mobilizing resources and funds from the Samruk Kazyna Sovereign Wealth Fund and Baiterek Holding, as well as leveraging the domestic capital market, foreign direct investment, and private capital to finance priority projects. This year, over 3 trillion tenge (US$6.5 billion) worth of projects are planned to be financed through Baiterek, with more than 700 billion tenge (US$1.5 billion) through Samruk Kazyna.
Bektenov also mentioned that effective weekly price monitoring and supply mechanisms implemented by the government have contributed to slowing inflation to 8.5%.
Furthermore, plans include laying approximately 1,800 kilometers of new gas pipelines to supply gas to 87 settlements accommodating nearly 300,000 residents. Kazakhstan is also constructing new gas processing facilities as part of these initiatives, aimed at increasing gas processing capacity and generating additional employment opportunities.(Source:astanatimes)
