ASTANA, Kazakhstan, February 5. Kazakhstan expects economic growth of at least 5.3 percent by the end of 2024, Trend reports with reference to the Ministry of National Economy.
Based on last year's results, the country's economy has adapted to new conditions and is on a road to sustainable development. As a result of the measures implemented, economic growth reached 5.1 percent.
Construction increased by 13.3 percent, trade by 11.3 percent, information and communication services by 7.1 percent, transportation services by 6.9 percent, and industry by 4.3 percent.
During the same period, investments in fixed capital climbed by 13.7 percent. For the first nine months of 2023, foreign direct investment totaled $19.7 billion.
Furthermore, foreign trade turnover climbed by 2.2 percent in the first 11 months of 2023, reaching $126 billion. The country's positive trade surplus exceeded $16 billion. The range of non-resource exports grew by 141 places.
As the Ministry noted, the government continues to work aimed at actively diversifying the economy, developing entrepreneurship, attracting investment, and significantly improving the well-being of citizens.
"All of this will establish a solid foundation for doubling GDP by 2029," the Ministry said.