Kazakhstan Newsline

Economy stabilizes, Industrial Production increases in Q1 2010

By Muratbek Makulbekov

Despite some decline caused by the global financial crisis, socio-economic development now demonstrates good dynamics in Kazakhstan.
While summarizing the results of the first three quarters of 2010, the government reported 6.5% growth (compared to the same period in 2009).
Director of the Russian NGO - Business Solidarity Vitaly Sednev said that the state intervention in economic processes was justified, and international rating agencies like Standard & Poor’s and Moody’s have upgraded Kazakhstan’s sovereign ratings from “negative” to “stable”.
Growth is observed almost in all areas of the economy: in industry it is 11.5%, in agriculture - 2.4%, in trade - 11.5%, in transport - 5.2% and in communications - 4.5%.
Minister of Industry and New Technologies Asset Issekeshev reported at the government session yesterday, in the first quarter of 2010, industrial enterprises in the country manufactured products with a value of KZT 2.7 trillion.
He added that the greatest growth was in the Kostanai Oblast (142.5%), South Kazakhstan Oblast (138.5%), Pavlodar Oblast (137.3%) and the Zhambyl Oblast (123.8%).
“In general, indicators in the sectors coordinated by the mnistry shows economic stabilization and a growth in production, ” Issekeshev said, according to Kazinform.