BAKU, Azerbaijan, July 13. Kazakhstan's gross domestic product (GDP) grew by 4.1% in the first half of this year, the press service of the Kazakh president says.
According to the press service, the macro-economic data was presented during President Kassym-Jomart Tokayev's working meeting in Astana, where he reviewed a comprehensive socio-economic development report submitted by Prime Minister Olzhas Bektenov. According to the executive briefing, fixed capital investments reached 9.5 trillion tenge ($20.1 billion), driven by a 21.4% surge in private capital inflows.
"The contribution of the manufacturing industry to the structure of the economy increased by 9.8%, the transport sector by 7.1%, and construction by 15.2%," Bektenov noted, according to the press service.
The prime minister reported substantial gains across other critical sectors, including a 5.7% increase in trade, 4.4% in agriculture, and 4.3% in communications services. In the manufacturing sector alone, the government plans to launch 200 key investment projects worth 1.7 trillion tenge ($3.5 billion) this year, which will generate 17,000 permanent jobs.
In terms of regional infrastructure upgrades, the cabinet has allocated 384 billion tenge ($812 million) to reconstruct nine power units, 55 boilers, and 51 turbines, successfully removing five thermal power plants from the critical "red" risk zone. Furthermore, annual inflation dropped to 10.3% in June, while optimizations to non-rational social security transfers are projected to save over 800 billion tenge ($1.6 billion) annually.
Following the report, President Tokayev instructed the cabinet to launch a large-scale construction program focused on modern regional healthcare facilities and strategic infrastructure.
