Kazakhstan's economy dynamically recovering - PM

Finance Analytics 21 June 2021 12:20
Baku, Azerbaijan Trend News Agency
Kazakhstan's economy dynamically recovering - PM

The economy of Kazakhstan is dynamically recovering in 2021, Prime Minister of Kazakhstan Askar Mamin said, Trend reports via Kazakh media.

The prime minister made the statement at a joint meeting of the chambers of the Parliament.

"Following the results of the first 5 months of this year, the growth of gross domestic product (GDP) amounted to 1.6 percent, there is a positive growth in all sectors of the economy. The manufacturing industry has become one of the main drivers of the economy. Also, mechanical engineering, chemical industry, pharmaceuticals and light industry showed the greatest growth,” said Mamin.

The PM added that the stability of the national economy was noted by the leading international credit agencies Moody’s, S&P and Fitch Ratings, which confirmed the credit rating of Kazakhstan at the pre-pandemic investment level, with positive and stable forecasts.

According to the results of the latest research of the International Development Institute in the Rating of World Competitiveness, Kazakhstan took 35-th place, having risen by 7 points.

The positions on the factors ‘Government Efficiency’, ‘Business Efficiency’, ‘Economic Activity’, ‘Infrastructure’ have also Improved.

According to McKinsey's research, Kazakhstan ranked 7th out of 56 countries in terms of economic stability.