Kazakhstan's GDP grows 4 pct in January-May

0 Comment(s)Print E-mail Xinhua, June 12, 2019
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NUR-SULTAN, June 11 (Xinhua) -- Kazakhstan's gross domestic product (GDP) grew by 4 percent in the first five months of 2019, the country's Minister of National Economy Ruslan Dalenov announced Tuesday.

"The annual inflation rate amounted to 5.3 percent, and remained within the target corridor of 4-6 percent," the minister said.

Investments increased by 7.8 percent, exceeding the rate of GDP growth, he said, adding that investments in agriculture and construction rose by 1.5 times.

International reserves of Kazakhstan amounted to 86.7 billion U.S. dollars, up 0.4 percent compared with the previous month, the minister said.

According to the minister, industrial production of Kazakhstan in the January-May period increased by 2 percent, while oil production decreased by 3.2 percent in connection with the planned repair work.

Meanwhile, the growth in the manufacturing industry increased by 3.6 percent. In the last five months, the growth of construction reached 8.8 percent.

The minister noted that steady growth was also observed in agriculture, reaching 3.7 percent. According to the official data, the agricultural growth was due to an increase in livestock production and crop production. Enditem

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