Kazakhstan observes record low level of inflation

13 November, 2018, 13:15 339
Kazakhstan observes record low level of inflation

A positive trend in the country's economy has been observed following 10 months of this year. 

 

For January-October 2018, the GDP growth has made up 4.1%. The key factors of economic growth were high investment activity, slowing inflation, as well as the increase in production in the basic sectors of the economy. Kazakh National Economy Minister Timur Sulerimenov said in the course of a meeting of the government, BNews.kz correspondent reports. 

"In January-October this year, Kazakhstan's economy has maintained a positive growth trend, with a 4.1% growth in GDP in the reporting period. The inflation level remains within the corridor 5-7%. In this October inflation was 0.4%, and from the year's beginning - 3.7%. The annual inflation was 5.3% (due to a high base of 7.7% in October 2017), which is a record low level in the last three years," said Timur Suleimenov. 

According to the Minister, the investment demand increases with steady paces, with a 20.8% increase in investment in the main capital. 

"As of November 1 this year, the country's international reserves declined by 2.7% (compared to the same period of 2017) and was 85.6 billion US dollars due to the reduction in international reserves (by 7.6%, up to 29.1 billion US dollars). Meanwhile, assets of the National Fund increased by 0.1%, and was 56.5 billion US dollars," said the Minister.