Kazakhstan’s economy expanded by 4% - Kassym-Jomart Tokayev

NUR-SULTAN. KAZINFORM – Kazakhstan’s economy demonstrated a growth of 4% following results of 2021, Head of State Kassym-Jomart Tokayev said Tuesday, Kazinform correspondent reports.

Addressing the extended session of the Government in Nur-Sultan, President Tokayev revealed that the domestic economy grew by 4% last year. Processing industry expanded by 5.5%, while construction industry increased by 7.6%. Trade demonstrated a 9.2% increase and transport sphere grew by 3.6%.

However, according to the Head of State, rate of inflation exceeded its target and amounted to 8.4%.

President Tokayev admitted that the January events changed the ordinary course of life in Kazakhstan dramatically. The illegal actions of looters affected both civilians and SMEs. In his words, damage to business exceeded 100 billion tenge following the unrest in Kazakhstan in January.

President Tokayev noted that Prime Minister Alikhan Smailov, Governor of the National Bank Galymzhan Pirmatov, Chairman of the Board of JSC ‘Samruk-Kazyna’ National Wealth Fund Almasadam Satkaliyev, akims (governors) of Mangistau, Zhambyl, Almaty regions as well as akim (mayor) of Almaty city are expected to take the floor at the session.