Kazakhstan’s GDP growth expected at 5% in 2023 – National Economy Ministry

 Kazakh Head of State Kassym-Jomart Tokayev received National Economic Minister Alibek Kuantyrov, Kazinform News Agency cites the Akorda press service. 

Kassym-Jomart Tokayev was briefed about the interim results of the social and economic development of the country in 10 months of this year.

It was informed that the country’s GDP growth is to stand at 5% in 2023. In the first half of the year, the volume of foreign direct investments reached $13.3bn. The annual inflation halved to 10.8% (21.3% in February).

According to Kuantyrov, the share of SMEs in GDP hit a record 36.4%, with SMEs output exceeding KZT28trl and those involved in SMEs – 4.3 million people.

The Kazakh Head of State was informed that a new entrepreneurship regulatory policy is set to be introduced aiming at reducing the number of inspections by 2fold.

Tokayev was also presented the information about the development of new budget and tax codes, investment policy, and development of public-private partnership.

Following the meeting, the Kazakh Head of State instructed to continue to ensure the quality and stable economic growth as well as to carry out the reforms effectively.