Kazakh National Economy Ministry reports growth of manufacturing industry

Kazakh National Economy Ministry reports growth of manufacturing industry
Kazakh Minister of National Economy Ruslan Dalenov announced the results of the country’s socio-economic development for seven months of this year at a government meeting chaired by Prime Minister Askar Mamin. Dalenov said that the manufacturing industry showed a positive growth rate of 3.8 percent. In particular, significant development rates were observed in the fields of pharmaceuticals, production of finished metal products, and mechanical engineering, including automotive and light industries.

“In terms of regions, high growth was reported in Kostanai region (by 18.9 percent), Turkistan region (by 15.8 percent) and North Kazakhstan region (by 8.8 percent). The decline was observed in four regions of the country, including Aktobe region (by 4.4 percent), Pavlodar region (by 0.8 percent), West Kazakhstan region (by 0.1 percent) and Shymkent (1.1 percent),” Dalenov said.

He added that in addition to the manufacturing industry, the growth rate during the reported period was also recorded in agriculture by 2.5 percent and in construction by 6.3 percent.

“A high growth rate of construction works is observed in Shymkent and Turkistan region. Seven million square meters of housing have been put into operation there. This is 7.5 percent more compared to the same period of last year,” Dalenov said.

He also stressed that quarantine restrictions resulted in a slowdown of oil production and a reduction in the volume of services in the mining sector. Dalenov said that this was reflected in the 0.4 percent decline in the development rate of the mining sector.

“The positive growth remains in other important sectors of the mining sector, including 2.6 percent growth in coal production, 2.3 percent in metal ores and 0.9 percent in natural gas,” Dalenov added.

In conclusion, he highlighted that central and local executive bodies need to focus on the implementation of a comprehensive plan to restore economic growth for the current year, as well as intensify the work of regional anti-crisis commissions.
Photo: baigenews.kz