Economy is growing due to investments

The Kazakhstan economic growth for 11 months this year amounted to 3,9 per cent. The Government is satisfied with such a result as up to the end of this year the index can grow up to 4 per cent, at that time, following the results of 2017 the world forecast of economic development is expected 0,4 per cent less.

The economy is growing due to investments, inflation rate is 7,3 per cent and there are improvements in 6 key economic branches among which such leaders as industry, transport and communication. For the period of 11 months of last year the GDP has almost dropped to minus and made up 0,8 per cent. This year the economy feels more confident and in November shows +3,9 per cent.       

Timur Suleimenov, the Minister of National Economy of the Republic of Kazakhstan:          

- As a whole, summing up 11 months of this year, the Kazakhstan economy shows stable growth that enables to expect the GDP at the level of 4,0 per cent following results of this year. 

From percentage terms - to expressions in numbers. Incomes in the budget have been increased due to improvement of economic indexes. Or up by KZT 520 billion for 11 months, than one year ago. In total, the sum of revenues in the state budget amounted to over KZT6 trillion.       

Bakhyt Sultanov, the Minister of Finance of the Republic of Kazakhstan:

- The sum of revenues in the state budget has been exceeded by an amount of  KZT 153 billion. In the republican – up by KZT 71 billion, local – up by KZT 82 billion, as a whole incomes of the state budget were carried out in an amount of  102,5 %.  

Funding received, but not implemented is the main problem in the Ministries and Akimats. According to Bakhyt Sultanov, the Minister of Finance, the principal causes are non-compliance with the contractual conditions by suppliers, the long agreeing of documents, completing behind schedule. The Prime Minister Bakytzhan Sagintayev reminded that there are only a few days left until the end of this fiscal year. The head of the Ministry instructed his deputy Erbolat Dosayev to monitor the funds’ implementation. The government expects 99,8 % execution of the budget this year. It means that within the next few days it is necessary to spend KZT614 billion.

Authors: Ivan Tulinov, Gani Alshymbayev

Source: http://24.kz/ru/news/economyc/item/210673-ekonomika-rastjot-za-schjot-investitsij