Olzhas Bektenov on 4% of GDP: Economic growth is ensured by non-oil sector development
At the Government session under the chairmanship of Prime Minister Olzhas Bektenov summarised the results of socio-economic development of the country and the implementation of the republican budget for 9 months of this year, El.kz cites primeminister.kz.
Deputy Prime Minister - Minister of National Economy Nurlan Baibazarov, Minister of Finance Madi Takiyev, as well as Chairman of the National Bank of Kazakhstan Timur Suleimenov made reports. Akims of a number of regions, where there is a lag behind the planned indicators, were heard on sectoral dynamics and attraction of investments.
According to the Ministry of National Economy, GDP growth for the first 9 months of this year reached 4% compared to the same period last year. This indicator is provided by positive dynamics in agriculture (+11.4%), construction (+10.1%), trade (+6.3%), manufacturing industry (+4.8%). At the same time there is a decrease in oil and coal production.
Head of the Government stressed that the growth of the economy due to the development of industries of non-oil sector, indicates the continued diversification in accordance with the tasks set by the Head of State.
The importance of active work of akimats and ministries to achieve the target economic indicators was noted. Today, steady growth in key parameters is demonstrated by Almaty, Karaganda, Kyzylorda, Pavlodar, Turkestan, East Kazakhstan regions, Astana and Shymkent cities. The lowest indicators were achieved in Atyrau, Mangystau, Zhambyl region, West Kazakhstan and Akmola regions.
"Daily monitoring is required, taking timely measures to promote the growth of lagging industries. Akimats need to focus on supporting the manufacturing industry, as well as stimulating construction and trade. There are great reserves here," Prime Minister Olzhas Bektenov emphasised.
Special attention at the meeting was paid to the issue of attracting investment in fixed assets. According to the results of 9 months, 11 regions have not reached the planned indicators.
"The relevant ministries and akimats should on a permanent basis assist entrepreneurs in expanding markets for their products and export basket.It is necessary to search for foreign enterprises to relocate production facilities and promote increased localisation at existing production facilities. I set a task for everyone to ensure the fulfilment of the target indicator on investment in fixed assets by the end of the year," Olzhas Bektenov instructed, highlighting the manufacturing sector, agribusiness, transport and logistics, as well as water and electricity supply. The MFA is tasked to strengthen investment work with monthly reporting on the results and problematic issues at meetings of the Investment Headquarters.
As part of the implementation of the Plan of measures to control and reduce inflation, the head of the Government instructed regional akims to continue work to contain prices for socially important goods. In September, inflation slowed down to 8.3%.
One of the priority tasks remains the support of domestic producers and increase in the share of treasury. Prime Minister noted the need for affordable financing of small and medium-sized enterprises with good potential for growth. At the same time, the ministries of industry, finance, national economy together with the Chamber ‘Atameken’ need to ensure effective monitoring of the use of domestic goods.
On disbursement of funds the administrators of budget programmes have been instructed to strengthen financial discipline.
"State and local executive bodies need to mobilise all resources for qualitative growth of the economy by the end of this year. In the current conditions it is not easy. Therefore, it is necessary to redouble efforts in this direction. This will require coordinated and effective work of each ministry and the region," Olzhas Bektenov emphasised.
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