ASTANA: Kazakhstan’s President Kassym-Jomart Tokayev, held a meeting with Prime Minister Alikhan Smailov to discuss the key outcomes of Kazakhstan’s economic development in 2023 and the progress in implementing socioeconomic reforms.
Prime Minister Smailov presented a comprehensive overview of the economic achievements, highlighting a robust economic growth of 5.1% in 2023. Capital investments saw significant growth, surging by 13.7% to reach 39.5 billion US dollars. Over the nine months of the year, Kazakhstan attracted 19.7 billion US dollars in foreign direct investments.
The number of people engaged in small and medium-sized businesses also increased by 14%, reaching 4.3 million people. Notably, joint efforts from the Government, National Bank, and regional governors contributed to a twofold reduction in the inflation rate to 9.8%.
Foreign trade turnover exhibited positive growth, rising by 2.2% to reach 126 billion US dollars, with a trade surplus exceeding 16 billion US dollars.
Prime Minister Smailov further detailed the development of the integrated pool of investment projects, citing the launch of 298 projects worth 1.8 trillion tenge in the previous year. Plans for the current year include the implementation of 326 projects, totaling 3.8 trillion tenge, with a focus on the processing industry contributing 1.2 trillion tenge. These initiatives are expected to generate 15,000 new job opportunities.
During the meeting, Prime Minister Smailov also highlighted measures aimed at improving the investment climate, ongoing reforms in the energy and construction sectors, and the implementation of new approaches in the agro-industrial sector.
President Tokayev outlined specific tasks for the country’s continued socioeconomic development, emphasizing the importance of building on the achievements and fostering a favorable environment for sustained growth.
