Kazakhstan's Economic Growth Hits 4.8% in 2024, Says Prime Minister

Kazakh Prime Minister Olzhas Bektenov stated that the country's economy grew by 4.8% last year during an expanded meeting of the Government chaired by the Head of State.

High dynamics were seen in agriculture up to 13.7%, construction up to 13.1%, trade up to 9.1%, and transport up to 8.5%, The Caspian Post reports citing Kazinform.

The industrial output rose by 5.9%. The agrarian sector and manufacturing industry recorded the most dynamic growth for the past 10 years, Bektenov said.

At the same time, Kazakhstan’s oil production decreased by 2.4 million tons adversely impacting the GDP growth rates due to the country’s obligations within OPEC+ and overhauls at major oilfields.

By regions, North Kazakhstan, Karaganda, Turkistan, Kyzylorda regions and the cities of Astana and Shymkent demonstrated the highest economic growth, while Ulytau, Atytau, West Kazakhstan and Zhambyl regions showed the lowest rates.

As earlier reported, the expanded meeting of the Kazakh Government under the chairmanship of the Head of State, Kassym-Jomart Tokayev, kicked off in Astana.