Kazakhstan's Economy Sees 15.5% Growth Since 2019

President Kassym-Jomart Tokayev revealed that Kazakhstan’s economy has grown by 15.5% in real terms since 2019, during his speech at the 4th Ulttyq Qurultay (National Congress) in the Burabay resort area.

“Since 2019, the economy of Kazakhstan has grown 15.5% in real terms. The country’s GDP has totaled 288 billion US dollars, while the GDP per capita increased by almost 46%, exceeding 14,000 US dollars. The foreign trade turnover has risen by nearly 45% to 140 billion US dollars. Total investments in fixed capital have grown by 1.5 times, surpassing 19 trillion tenge last year,” said the president.

Investments in education have risen by more than 5-fold, in healthcare and social care by 3.5-fold and the transport sector by almost 3-fold.

“Throughout this period, over 500 schools, many medical, sports and other social facilities have been opened. Almost 4,400km of roads have been constructed and reconstructed; new railway lines, tens of new plants have been inaugurated. A record of 27 million tons of grain were harvested last fall, as the state boosted support for agrarians,” said Tokayev.

The Kazakh president noted that last year, Kazakhstan commissioned an unprecedented 19 million sq.m. of housing.

“Since 2019, the country has built over 250 dormitories, reducing dormitory shortage by 6 times in spite of the growing number of students, which now stands at 624,000. Up to 90,000 Kazakhstanis are studying abroad… More and more Kazakhstanis are now traveling abroad for vacation. Our national turquoise passport allows its holders to cross the borders of 92 states visa-free,” he added.

President Tokayev highlighted that Kazakhstan enjoys respect in the international arena and is referred as a middle power.