Kazakhstan’s GDP set to top $300 billion for first time, Tokayev says

Kazakhstan’s gross domestic product (GDP) is expected to exceed $300bn for the first time, President Kassym-Jomart Tokayev has announced.

Speaking at an awards ceremony for the winners of the Altyn Sapa and Paryz prizes, as well as the national competition Best Product of Kazakhstan, Tokayev said the country’s economic growth this year is forecast to exceed 6% — the highest level recorded in the past decade, Caliber.Az reports.

“A competitive business sector is the backbone of any state,” the president said.

“It is expected that Kazakhstan’s economic growth will surpass 6% this year. This represents the strongest performance in ten years. Moreover, GDP is projected to exceed $300bn for the first time.”

Tokayev emphasised that the government is currently prioritising the development of infrastructure and the diversification of the economy. As part of this strategy, he said, authorities must step up efforts to increase exports of finished products.

“At present, we have already achieved certain results in this area,” he added.

By Aghakazim Guliyev