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In 2020, employment measures covered 1.4 million people, tax breaks were received by 700 thousand entrepreneurs — Ministry of National Economy

Tuesday, 12 January 2021, 10:43:16

At the government session chaired by Prime Minister Askar Mamin, the results of the country's socio-economic development and execution of the republican budget for 2020 were considered. Minister of National Economy Ruslan Dalenov reported on the state of the country's economy.

According to the minister, in 2020 the growth of the real sector became an economic driver, amounting to 2%. For the service sector, the year ended with a 5.6% loss, although in recent months the dynamics began to recover. As a result, the GDP growth rate was -2.6%, which is higher than the dynamics for 11 months.

Almost all branches of the real sector and certain types of services demonstrate positive growth rates. These are construction, information and communication, agriculture, manufacturing, education.

Also, despite the negative growth in some industries, the dynamics improved by the end of the year. These are transport, trade, scientific and technical activities, operations with real estate, mining.

In 2020, measures to support the economy helped to maintain employment and business activity. To preserve and create jobs, the Employment Roadmap is being implemented.

Tax incentives have been adopted for the affected industries. The instruments of concessional lending to SMEs have been significantly expanded. Financing of working capital has been increased.

Refinancing of loans on favorable terms, as well as loan deferrals were provided. The flexibility of budgetary and public administration is ensured. Increased budgetary incentives.

“As a result, 1.4 million people are covered by employment measures, including 238 thousand people within the framework of the Employment Roadmap. Tax breaks were received by 700 thousand entrepreneurs. 80% of borrowers from affected industries received loan deferrals. About 40 thousand projects of entrepreneurs have been financed at a reduced rate,” Dalenov said.

At the same time, there was a qualitative change in the structure of the economy.

Thus, in 2020, the share of processing in the total volume of industry increased by 9.4 p.p., from 39.4% in 2019 to 48.8% in 2020. There has been double-digit growth in light industry, automotive and finished metal products. Exports of processed, finished goods increased.

Due to production growth, the share of Kazakhstani goods in total consumption increased by 4.7 percentage points. There is an increase of 6 pp. the share of e-commerce and 2 times the volume of non-cash payments, as well as an increase in investment by 14.8% excluding the mining industry.

There is a dynamic growth in the manufacturing industries. Selected processing industries experienced an acceleration in growth compared to last year.

“Food production accelerated to 4%, paper products — up to 16.4%, pharmaceuticals — up to 47%, light industry — up to 15%. High growth rates are demonstrated by mechanical engineering — 16.3%, including the automotive industry — 52.5%, the production of leather products — 2.3 times and wood products — 43.2%,’’ noted Dalenov.

For 11 months of 2020, foreign trade turnover amounted to $77.7 billion, including exports — $43.4 billion. Export of Kazakhstan is carried out to 117 countries of the world. Exported 3,183 types of finished, processed goods. Imports amounted to $34.4 billion. Thus, a positive trade balance of $ 9 billion was ensured.

In 2020, there was an outstripping growth in the manufacturing industry. The processing growth rate accelerated to 3.9%. At the same time, the mining industry decreased by 3.7% due to the reduction in oil under the OPEC+ agreement.

As a result, the overall industrial volume index was 99.3%.

In the manufacturing industry, 12 regions showed positive growth. The greatest growth is noted in Kostanay, Akmola and North Kazakhstan regions.

As the minister informed, in 2020 agriculture entered the positive zone with an increase of 5.6%. This has improved food security. The output of crop production increased by 7.8% and livestock production — by 3%.

Positive dynamics is observed in 13 regions. Kostanay and Akmola showed high growth.

The construction sector recorded a strong growth of 11.2%.

The greatest growth in construction work is noted in the Turkistan region and Shymkent.

“In 2020, a record volume of housing was commissioned — 15.3 million square meters. This is 16.8% higher than the level of 2019. 15 regions showed positive growth. The largest increase is noted in Nur-Sultan — 1.7 times,” Dalenov emphasized.

High investment activity is noted in most regions. Positive growth is observed in 12 regions, of which 5 regions showed growth from 20% to 60%. The best indicators are observed in the Turkestan region and Shymkent city.

In general, investments in fixed assets in the amount of 12.3 trillion tenge were attracted. Investments, excluding the mining industry, increased by 14.8%.

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