Government considers social and economic development of Kazakhstan for 7 months of 2022

The results of social and economic development of the country and the implementation of the republican budget for the 7 months of this year were considered at the Government session chaired by the Prime Minister of the Republic of Kazakhstan, Alikhan Smailov.

The Minister of National Economy, Alibek Kuantyrov, reported that in January-July 2022, GDP growth was 3.3%. This year the positive dynamics in such sectors as construction (8.6%), communications (6.5%), trade (6.2%), transport and warehousing (5.6%), manufacturing (4.9%), agriculture (2.1%), etc. remained.

In January-June the foreign trade turnover increased by 39.4% and amounted to $63.7 billion. In particular, the figure for exports in general increased by 56.3% ($42.2 billion) and for exports of processed goods by 33.5% ($12 billion).

According to the Deputy Chairman of the National Bank, Akylzhan Baimagambetov, inflation in annual terms was 15% in July. Food prices increased by 19.7%, non-food prices by 14.2% and paid services by 9.2%. Monthly inflation amounted to 1.1% in July.

In turn, the Deputy Prime Minister, the Minister of Finance, Yerulan Zhamaubayev, reported that during the reporting period the state budget received 8 trillion 463 billion tenge (excluding transfers), revenues to the national budget (without transfers) amounted to 5.6 trillion tenge (101.3% of plan), and revenues to local budgets amounted to 2 trillion 864 billion tenge (113.3%). The expenditures of the state budget were executed by 98.7%, the republican budget by 99.6% and local budgets by 98%.

The Prime Minister, having heard the speakers, stressed that a great contribution to economic growth is made by the real sector.

"In order to maintain the positive dynamics, it is necessary to continue work on further diversification of the economy, implementation of investment projects and job creation," Alikhan Smailov said.

The Head of State noted that during the reporting period the growth of all major indicators is observed in Karaganda, North Kazakhstan Region and Shymkent. The responsible state agencies and regional akimats were instructed to strengthen work to ensure the growth of indicators.

Alikhan Smailov paid special attention to the fight against inflation, recalling his instructions to check the activities of the company, which may be associated with overpricing and lack of sugar.

"This problem is long overdue. Such situations must be identified and prevented by responsible state agencies at an early stage," the Prime Minister stressed.

Alikhan Smailov added that all the necessary tools are available to curb inflation, so government agencies and akimats should use them more effectively.

"I want to draw attention once again to the intensification of the work of the Commission to investigate intermediary schemes, strengthening of control over the price markup of 15% for socially important food products and timely contracting for forward purchase of agricultural products," the Prime Minister concluded.

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