Alikhan Smailov: We expect economic growth of 4.5-5% in 2023

The Prime Minister of Kazakhstan Alikhan Smailov spoke about the progress of the economy of Kazakhstan, speaking at the national forum of deputies of maslikhats of all levels of the AMANAT party in Astana.

The Head of Government noted that to date the economy of the republic has adapted to the unfavorable foreign economic conditions and entered the path of sustainable development. In particular, at the end of last year its growth was 3.3%. At the same time the number of working small and medium enterprises increased by 27%, the number of people employed in this sector grew by 18% to 4.1 million, and the share of SMEs in the economy as a whole has changed from 33% to 36.5%.

"The measures taken this year have also allowed to ensure the stable development of the economy. For 5 months the real growth of gross domestic product amounted to 4,5%. Positive dynamics is formed in all main directions," Alikhan Smailov said.

Thus, the actual growth is 12% in construction, 10% in trade, 9% in communications, 7% in transport and 3.3% in manufacturing.

"Economic growth is directly related to investment. The real volume of investment in fixed assets for 5 months increased by 17.2%. This year we expect economic growth of 4.5-5%, and in the medium term at least 6%," Prime Minister said.

At the same time Alikhan Smailov pointed out that one of the main objectives of the Government and local executive bodies is to stabilize food prices. For this purpose a set of measures to control and reduce inflation is being implemented today, which includes the conclusion of forward contracts with agricultural producers, active work of the stabilization food funds, construction of vegetable storage facilities, antitrust and foreign trade regulation, etc.

"As a result, annual inflation slowed down from 21% to 15.9% in May this year. At the same time we face the task to reduce it by half by the end of the year," he said.

The Prime Minister stressed that the basis of the Government's work is the implementation of the pre-election platform of the Head of State and the program of the AMANAT party.

"The effective implementation of these program documents will improve the living standards of the population. We have all the necessary resources to achieve the set goals. It also requires active participation of maslikhats," Alikhan Smailov noted.

#Alikhan Smailov #The Prime Minister of the Republic of Kazakhstan

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