President Tokayev Receives PM Smailov, Acknowledges Economic Milestones
Astana, The Gulf Observer: In a recent meeting at the Presidential Palace, President Kassym-Jomart Tokayev welcomed Prime Minister Alikhan Smailov, where discussions centered on key achievements in Kazakhstan’s economic landscape throughout 2023 and the progress made in implementing crucial socioeconomic reforms.
Prime Minister Smailov presented a comprehensive overview of the economic strides, revealing a remarkable 5.1% growth in Kazakhstan’s economy. Capital investments surged by 13.7%, reaching an impressive 39.5 billion US dollars. During the initial nine months of 2023, the nation successfully attracted 19.7 billion US dollars in foreign direct investments. Notably, small and medium-sized businesses experienced a substantial 14% increase, with 4.3 million people now actively engaged in this sector.
Through collaborative efforts involving the Government, National Bank, and regional governors, the inflation rate was effectively halved, achieving a noteworthy reduction to 9.8%.
Foreign trade witnessed a robust ascent, with turnover escalating by 2.2%, reaching 126 billion US dollars. The trade surplus surpassed 16 billion US dollars, showcasing Kazakhstan’s resilience and competitiveness on the global economic stage.
Prime Minister Smailov also outlined advancements in the integrated pool of investment projects, unveiling the launch of 298 projects valued at 1.8 trillion tenge in the past year. Looking ahead, plans for the current year involve the implementation of 326 projects, amounting to 3.8 trillion tenge, with a particular emphasis on the processing industry. This ambitious initiative is expected to generate 15,000 new job opportunities.
Furthermore, the Prime Minister detailed ongoing measures to enhance the investment climate, enact reforms in the energy and construction sectors, and introduce innovative approaches within the agro-industrial domain.
As the meeting concluded, President Tokayev outlined specific tasks to propel the country’s continued socioeconomic development, reinforcing a commitment to sustained progress and prosperity for the people of Kazakhstan.
