President sets several tasks to PM Bektenov

Prime Minister Olzhas Bektenov reported today to President Kassym-Jomart Tokayev on the fulfillment of his tasks to ensure economic growth and to improve social policy, Kazinform News Agency learned from the Akorda press service.

According to Bektenov, from January to November 2024, GDP increased by 4.4%.

As a result of diversification of economy, growth is observed in agriculture – 13.4%, construction – 10.3%, trade – 8.2%, transport – 8.1%, processing industry – 5.3%, metallurgy – 7.2%, machine-building (6.9%), chemical industry – 8.4%, as well as in information and communication (5.3%), the Prime Minister said.

In 2024, the country’s economic growth was fully ensured by the development of non-oil sector (5.1%). Meanwhile, the failure to achieve projected oil production indicators affected the overall paces of economic development.

As a result of the measures taken to support domestic producers and to boost deep processing, exports of processed goods increased by 10.2% reaching 23.3 billion US dollars. Imports of goods decreased by 3.3%.

Investments in fixed capital rose by 3.1%, with the biggest growth observed in non-resource sectors.

The President was informed about the plans to further increase business activity and improve the quality of living in regions.

Upon completion of the meeting, Kassym-Jomart Tokayev assigned a number tasks to the Prime Minister, such as to raise positive dynamics in processing industry, agriculture, construction and transport sector, to attract investments, to modernize social and engineering infrastructure, to ensure import substitution and control over stability of prices for socially vital food stuffs.

Earlier, the Cabinet reported that Kazakhstan attracted KZT 327 bln in investments in energy sector.