WNAM REPORT: Prime Minister Olzhas Bektenov of Kazakhstan spoke about how the government plans to double the GDP by 2029, as correspondent reports.
Prime Minister Bektenov said that according to the forecast the annual GDP growth is expected at 5.4% on average.
Once such a growth rate is achieved, the country’s gross domestic product is to rise from 321 billion US dollars in 2025 to 498 billion US dollars in 2029. In this way, the task set by the Head of State to increase the GDP to 450 billion US dollars by 2029 will be done, stated the Kazakh Premier.
According to Bektenov, the government sets more ambitious targets in its work, envisioned in the approved National Development Plan before 2029. The document provides for the annual GDP growth at 5.6%-6.9%.
This is a very ambitious task, which requires active work to diversify the economy, increase its complexity, establish higher value-added manufacturing and avoid dependence on raw materials, said Bektenov.
The Kazakh Prime Minister noted that the country’s GDP stood at 4% in nine months amid falling oil production.
The growth was achieved thanks to other non-oil sectors, agriculture, which grew 11.4%, transport, trade, which observed over 6% growth. Construction rose by over 10%. Thus, growth in these sectors allows us to support economic growth in general, added the Premier.
