At the meeting of the Government chaired by the Prime Minister Bakytzhan Sagintayev, the results of socio-economic development for January-November of 2017 were examined.

Minister of National Economy Timur Suleimenov reported that in January-November this year against a background of accelerated investment activity and stabilization of inflationary processes, as well as improvement of the situation in all six basic sectors, the economy grew by 3.9%.

As the minister noted, the growth rate of investments in fixed assets accelerated 2.8 times compared to 2016, making 5.7%. Since the beginning of this year, the level of annual inflation was in the established corridor (6-8%) and by the results of November amounted to 7.3%.

As a result of implementation of programs on economic diversification, AIC development, entrepreneurship and infrastructure, as well as employment, all sectors of the economy show positive dynamics.

In the real sector of the six basic industries, the greatest growth is observed in industry, transport and communications. The mining industry recorded an increase of 9.6% due to double-digit growth in oil and natural gas production.

"Pharmaceutical production, furniture manufacturing, light and metallurgical industries, refined products, food and beverages, and machinery have become the drivers of the economy. In agriculture, growth accelerated from 1.9% in January-September of this year to 2.3% for 11 months," the minister said.

Also, according to Timur Suleimenov, business activity in the real sector of the economy, creating demand for related industries, stimulated the growth of the service sector. Thus, for 11 months, transportation services increased by 4.8%, communications - by 3.2%, trade - by 2.8%, and real estate transactions - by 2.5%.

"For January-November, the volume of investments in fixed assets increased by 5.7% to 7.5 trillion tenge. The main increase in investments went to agriculture, trade, construction and industry," the minister said.

The speaker noted that in 10 months, as a result of a more than twofold prevalence of growth in exports over growth in imports, the balance of the trade balance grew by 71.7%. The trade balance was also improved by the export of processed products.

In general, the country's foreign trade turnover increased by 25.6% to $62.1 billion.

"Sustained economic growth was accompanied by an improvement in social indicators. One of the main priorities is the creation of new jobs. So, for 9 months of this year, the number of employees increased by 53.1 thousand people and amounted to 6.4 million people," the minister reported.

In January-October of 2017, the average monthly wage in nominal terms increased by 4.6% to 146.5 thousand tenge.

"In general, following the results of 11 months, the economy of Kazakhstan demonstrates stable growth rates, which allows to expect GDP growth at the year-end at the level of 4%," T. Suleimenov summed up.

Also during the meeting, the chairman of the National Bank Daniyar Akishev spoke on this issue.