BAKU, Azerbaijan, July 15. The mining industry will become the driver of investments in Kazakhstan as a result of the implementation of the Tengiz field expansion project until the end of 2022, the macro-review report of the Eurasian Development Bank (EDB) on "Miscorrelation of dynamics of national currencies - new phenomenon in EAEU+" said, Trend reports.
According to the report, capital investments in education, public administration, social security, scientific and technical activities, health care, real estate transactions, trade, construction and mining in Kazakhstan have increased.
"The investment growth was held back by a decline in investments in agriculture and the manufacturing industry," the report noted.
At the same time, industrial production in Kazakhstan has maintained its positive dynamics.
"The industrial production increased by 4.4 percent from January through May 2022 after growing by 4.7 percent from January through April of this year. Oil production in May recovered after an April decline due to the recent accident at СPC (the Caspian Pipeline Consortium) pipeline," said the report.
Besides, the report stressed that Kazakhstan's manufacturing PMI (Purchasing Manager's Index) has reached its highest level since March 2019: "In June 2022, this indicator rose to 53 (from 52 a month earlier) as a result of an increase in the number of new orders, employment and purchasing activity.”
“The decrease in production volumes in the metallurgy, pharmaceutical, light, the rubber and plastics industries and the energy sector had a limited impact on the industrial sector dynamics. Nevertheless, Kazakh manufacturers remain optimistic about the business prospects," the report said.
