ALMATY, Aug 2 (NNN-KNA) – Kazakhstan’s economy grew five percent in 2024, exceeding the preliminary estimate of 4.8 percent, driven by the expansion of the non-oil sector, Kazakhstan’s Ministry of National Economy said yesterday, in a press release.
According to Kazakhstan’s Bureau of National Statistics, the revised figures show manufacturing output surged 6.8 percent, the sector’s strongest performance since 2011, while construction grew 15.3 percent and agriculture expanded 13.7 percent.
The services sector increased 4.6 percent, supported by a 9.4 percent rise in transportation and warehousing services.
The growth was made possible through support measures for the real sector, the development of transport and logistics infrastructure, stimulation of investment activity, and improved access to financial instruments, the press release said.
Officials attributed the economic outperformance to effective diversification policies, which have boosted domestic demand, business activity and the country’s productive capacity.– NNN-KNA
