Minister of National Economy of Kazakhstan Alibek Kuantyrov reported to President Kassym-Zhomart Tokayev on the socio-economic development of the country for the first 10 months, the Telegram channel of Akorda reports.
He noted that GDP growth is expected to stand at 5% by the end of 2023. In the first half of the year, foreign direct investment amounted to $13.3 billion. Annual inflation dropped by half and stood at 10.8% (compared to 21.3% in February).
The Minister reported that the share of small and medium-sized businesses in GDP hit record 36.4%. The output of small and medium-sized businesses exceeded 28 trillion tenge, and the number of people employed in this sector reached 4.3 million. This year, 9,000 projects have been subsidized, and loans have totalled 669 billion tenge.
The President was informed about the progress of the development of new Budget and Tax Codes and the investment and public-private partnership policies.