Kazakh Government introduces measures to lower inflation

Finance Materials 12 December 2022 11:52
Astana, Kazakhstan KazInform
Kazakh Government introduces measures to lower inflation

Prime Minister Alikhan Smailov highlighted key indicators of Kazakhstan’s economic performance in 11 months of 2022 at the extended meeting of the government Monday, Kazinform correspondent reports.

According to Prime Minister Smailov, rate of growth of the Kazakh economy totaled 2.7% in January-November 2022. Kazakhstan’s foreign trade turnover went up to 34% reaching $111 billion, while exports saw a 45% increase in the reporting period.

The Premier added that inflation soared up to 19.6% this year mainly caused by geopolitical tensions, skyrocketing global prices and other factors. The Government, in his words, has introduced a set of measures to bring inflation under control and eventually lower it.

The measures are aimed at increasing the share of domestic goods at the domestic market, developing mechanisms of storing and transporting products as well as supporting retail industry.

The extended meeting of the Kazakh Government chaired by the Head of State focused on the reports on key indicator of Kazakhstan’s socioeconomic development in 2022 and the Government’s plan of work in the year to come.