Prime Minister Olzhas Bektenov announced at a government meeting that Kazakhstan’s economy grew by 3.9% in January, with the highest growth rates seen in the construction sector, transport and warehousing, information and communications, and manufacturing. Meanwhile, preliminary results showed that foreign trade turnover increased by 3.2% to $140 billion last year, with exports nearing $79 billion and imports exceeding $61 billion.
President Kassym-Jomart Tokayev had previously highlighted the issue of value-added tax (VAT) not being refunded to businesses due to incorrect planning. This was brought up by Prime Minister Bektenov during the meeting as a priority task for the current year – to ensure stable economic growth of 6%.
In addition to this, the government aims to support the development of medium-sized businesses by reviewing the state support system and accelerating the conclusion of agreements with successful medium-sized enterprises. The goal is to maintain inflation within the range of 6-8% this year while continuing to prioritize containing price increases.