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Investments remain a key driver of Kazakhstan's economy

The economic growth dynamics of Kazakhstan remains stable with high investment activity, Interfax-Kazakhstan reports, with reference to Aigul Berdigulova, an Analyst at the Economic Analysis Department of the Eurasian Development Bank (EDB).

“According to the preliminary evaluation of the Ministry of National Economy of Kazakhstan, in January-July 2019, GDP increased by 4.2%. Investments continue to play a key role in forming the current economic dynamics. We expect that investments remain a key driver of economic dynamics, taking into account the implementation of current state development programs”, said A.Berdigulova.

According to her, in January-July 2019, investment in fixed assets increased by 11.3% compared to the same period of the last year.

“The main contribution to the formation of positive dynamics is made by the mining industry, where the growth in January-July 2019 amounted to 32.3%, as well as the electricity and gas supply sector - 63.5%”, she explained.

A.Berdigulova noted that the consolidated leading indicator calculated by the EEC points to business slowing activity in August-September 2019, as evidenced by the short-term expectations of economic agents regarding demand and price conditions.