Kazakh President Kassym-Jomart Tokayev outlined the country’s key economic and social achievements during a ceremony marking Republic Day, Qazinform News Agency reports, citing Akorda. The President highlighted economic growth, an expansion in housing construction and the development of small and medium-sized businesses.
“Since 2019, our economy has grown by around 30%. GDP per capita has exceeded $15,000. Under the National Fund for Children program, $2.5 billion has been transferred to the accounts of seven million children. Last year, more than 20 million square meters of housing were commissioned, an unprecedented figure.
Life expectancy has approached 76 years. According to the World Bank, Kazakhstan leads the region in this indicator. “Our top priority is to strengthen the national economy. We have entered the ranks of the world’s most influential countries, taking 34th place. Kazakhstan’s gross domestic product is approaching $350 billion, placing us second among the Commonwealth of Independent States (CIS) countries,” Tokayev said.
He also noted that the share of small and medium-sized businesses in GDP had risen to 40%. Domestic entrepreneurs are expanding production, while a new business culture is taking shape. Nearly half of the country’s working-age population is now employed in the sector, he added.
The President emphasized the development of high-tech manufacturing and industrial production. “Over the past five years, the share of manufacturing in total exports has exceeded 45%. Kazakhstan’s industry is therefore moving to a new level of development. In recent years, we have made a major breakthrough in railway engineering.
We have begun producing almost everything needed for the sector, from rails and railway sleepers to freight and passenger cars and electric locomotives. Automobile production is also gaining momentum, with more than 150,000 passenger and commercial vehicles rolling off assembly lines annually.
All strategic sectors of the economy are receiving a strong boost,” he said. Tokayev also highlighted the role of foreign investment in the country’s continued development. Over the past seven years, Kazakhstan has attracted $155 billion in investment. He added that participation in high-level international events and visits abroad had strengthened Kazakhstan’s political standing while delivering tangible economic benefits.
“Since the beginning of this year, 355 commercial agreements worth a total of $60 billion have been signed,” the President said.