At the government session chaired by the Prime Minister Askar Mamin, the results of the country's socio-economic development and the execution of the republican budget for January-November 2020 were considered.

Minister of National Economy Ruslan Dalenov, Chair of the National Bank Erbolat Dossaev, Minister of Finance Yerulan Zhamaubayev reported on the state of the economy, the banking sector, the execution of the republican budget, local content in public procurement, and the Minister of Industry and Infrastructure Development Beibut Atamkulov, Minister of Energy Nurlan Nogayev, Minister of Trade and Integration Bakhyt Sultanov spoke on the situation in industry, energy sector and prices for socially significant food products.

According to the results of eleven months of this year, the basic sectors of the economy are showing positive growth dynamics. In the manufacturing industry, growth was achieved by 3.3%, of which in food production – by 3.6%, pharmaceuticals – by 39.5%, production of finished metal products – by 19.6%, mechanical engineering – by 16.4%, including the automotive industry – by 52.6%, as well as paper products – by 14.6% and light industry – by 15.5%.

Construction volumes increased by 12.1%, housing commissioning – by 9.3%, or about 12.1 million m². In agriculture, a steady growth of 5.3% was ensured. The gold and foreign exchange reserves of the Republic of Kazakhstan and the assets of the National Fund as of Nov. 1, 2020, amounted to $89.9 billion.

Positive dynamics continues in such important areas of the mining sector as the extraction of iron ore (+ 0.6%) and other minerals (+2.1%). At the same time, in the conditions of the need to fulfill the agreements reached by OPEC+, oil production decreased (-5.5%).

The service sector is becoming more active. In November, compared with October, an increase in business activity was recorded in the areas of trade (+ 17.1%), accommodation and food (+ 10.5%), communications (+ 4.5%).

“Stabilization of the epidemiological situation in the country, as well as its further preservation will significantly contribute to the growth of the economy,” Mamin said.

Akmola, Aktobe, Almaty, Zhambyl, Kostanay, Mangystau, Pavlodar, North Kazakhstan and Turkistan regions, the cities of Shymkent and Nur-Sultan ensured the growth of socio-economic development in 5 out of 7 main indicators. Positive dynamics in 4 indicators was achieved in East Kazakhstan, Karaganda regions and Almaty city.

The Head of Government drew attention to the increased rates of growth in prices for socially significant food products in Pavlodar, Turkistan, Aktobe regions. The smallest price increase was recorded in Akmola, Kyzylorda, North Kazakhstan, East Kazakhstan, Mangystau regions and the city of Nur-Sultan.

“Akims of the regions to take measures to ensure the stabilization of prices for socially significant goods and tariffs. Tools for this work are available. Price issues should be under constant control,” Mamin said.

The Head of Government emphasized the need for 100% implementation of the plan to ensure the revenue side of the budget, as well as the full and efficient use of budget funds by the end of the financial year.