Today within the framework of the Government meeting, chaired by the Prime Minister of the Republic of Kazakhstan Bakytzhan Sagintayev, the forecast and main priorities of social and economic development for 2018-2022 have been considered.

Minister of National Economy Timur Suleimenov reported that the document was developed to implement the goals and objectives defined in the "Kazakhstan-2050 Strategy", the concept of joining the group of 30 most developed countries, the five institutional reforms, and the Third Modernization of Kazakhstan.

Thus, since the beginning of the year, an improvement in economic activity is seen in Kazakhstan. The GDP growth for 7 months is 4.0%. By the end of the year, the economy is expected to grow at a level of 3.4%. In addition, according to the forecasts of the IMF in 2017-2018, sustained global economic growth of 3.5-3.6% is expected in the face of accelerated activity in countries with advanced economy.

The basic scenario for the oil price of $45 is taken as the basis of the formation of the Forecast for 2018-2022 and Budget parameters for 2018-2020.

Real GDP growth is projected at 3.1% in 2018, with a further increase to 4.2% in 2022. The average annual growth rate of GDP for the forthcoming period will be 3.7%. Nominal GDP will grow from 55.9 trillion tenge next year to 75.9 trillion tenge in 2022. GDP per capita will be $9 000 in 2018, with an increase to $11 700 in 2022.

Due to the introduction of SPIID projects, the continuation of the state programs for the AIC development, “Nurly Zhol” and “Nurly Zher”, and the implementation of the project management for the implementation of the Third Modernization, higher growth rates in the manufacturing industry are expected at 4.2%, in agriculture - 5.7%, in the construction industry - 4.0%, transport - 5.1%, and trade - 3.5%.

The National Bank retained the target corridor of annual inflation in the range of 5-7% in 2018, 4-6% in 2019, followed by a decrease to 3-4% in 2020-2022. The unemployment rate will decrease from 4.9% in 2018 to 4.7% in 2022.

To achieve growth parameters, the main efforts will focus on the following priorities of economic policy: ensuring macroeconomic stability, accelerated technological modernization, principal improvement and expansion of the business environment, the human capital improvement, institutional transformation.

The efforts will also be aimed at balanced regional development with the aim of expanding and strengthening the economic independence and responsibility of the regions, achieving equal living and working conditions for the citizens of Kazakhstan, regardless of their geography.