National Bank of Kazakhstan

10/22/2021 | Press release | Distributed by Public on 10/22/2021 05:30

Mamin informed Tokayev how Govt plans to stabilize food prices

The head of state received Prime Minister Askar Mamin, reports with reference to the press service of the President of the Republic of Kazakhstan.

President Kassym-Jomart Tokayev was reported on the dynamics of economic growth in Kazakhstan, measures to stabilize prices for socially significant food products, the sanitary and epidemiological situation and other topical issues of the country's socio-economic development.

The head of state noted that the economy of Kazakhstan demonstrates a confident recovery dynamics. At the end of nine months of 2021, GDP growth amounted to 3.4%. The economic recovery was achieved thanks to the timely adopted anti-crisis measures.

As Prime Minister Askar Mamin said, a key factor in accelerating the economy is a stable growth in production in the real sector (+3.5%), as well as a consistent recovery in the service sector against the backdrop of quarantine relief. Thus, the volume of production in the manufacturing industry increased by 5.7%. The construction industry grew by 9.7%. Over 9 months, 10.4 million square meters of housing were commissioned in the country, which is 8% more compared to the same period last year.

The Prime Minister told the Head of State about the work to stabilize prices for socially significant food products and implementation of the Anti-inflationary Response measures.

The government is taking measures to stabilize prices along the entire value chain in the agro-industrial complex, conclude long-term contracts between retail chains and domestic producers, increase financing for the «turnaround»scheme and purchase foodstuffs for stabilization funds, and prevent excess trade margins for socially significant food products.

In addition, Kassym-Jomart Tokayev was informed about the sanitary and epidemiological situation in the country. To date, in all regions, the incidence rate, the number of severe cases and those on inpatient and outpatient treatment have been significantly reduced. The reproductive index of the virus is 0.96. The workload of infectious beds is 37%, resuscitation beds -31%. To date, 8.1 million people have been vaccinated with the first component of the coronavirus vaccine, 7.2 million citizens -with the second component.

Askar Mamin also reported to the President on the implementation of measures to increase the inflow of foreign and domestic investment, enhance the potential of small and medium-sized businesses, regional development, further diversify the structure of the economy through the growth and development of the manufacturing sector, as well as other topical issues of the country's socio-economic development.