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Astana, Kazakhstan • 16 August, 2022 | 15:57

What Did Kazakh Government Accomplish in 7 Months of 2022?

PM Calls for Fighting Against Inflation

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The results of the socio-economic development of the country and the implementation of the republican budget for 7 months of the current year were evaluated at the government meeting chaired by Prime Minister Alikhan Smailov, reports QazMonitor citing the press service of the Prime Minister.

The Minister of National Economy Alibek Kuantyrov said that from January-July 2022 the GDP growth was 3.3%. The positive dynamics were preserved in the fields of construction (8.6%), communication (6.5%), trade (6.2%), transport and storage (5.6%), manufacturing (4.9%), agriculture (2.1%), etc. Plus, for the same period, foreign trade turnover increased by 39.4% and amounted to $63.7 billion.

According to the Deputy Governor of the National Bank Akylzhan Baimagambetov, inflation in annual terms was 15% in July. Food prices increased by 19.7%, non-food prices by 14.2%, and paid services by 9.2%. Monthly inflation amounted to 1.1% in July.

Alikhan Smailov paid special attention to the issue of fighting inflation, reiterating his instructions to monitor the activities of the companies that may be responsible for inflated prices and a shortage of sugar.

I would like to draw attention to the intensive work of the Commission for Investigation of Intermediary Schemes, strengthening control over the price markup of 15% for socially important food products, and timely signing contracts for forward purchase of agricultural products.

Alikhan Smailov, The Prime Minister

The Minister of Finance Yerulan Zhamaubaev reported that during the 7-month period the state budget received 8.4 trillion tenge (excluding transfers). Revenues to the national budget (excluding transfers) amounted to 5.6 trillion tenge (101.3% of the plan), and revenues to local budgets was 2.8 trillion tenge (113.3%). The expenditures of the state budget were fulfilled by 98.7%, the republican budget by 99.6%, and local budgets by 98%.

At the end of the meeting, the prime minister stressed the importance of overall diversification, implementation of investment projects, and job creation to economic growth.

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