The economy of Kazakhstan grew by 4% in 2021

A Minister’s Cabinet regular session was held in Kazakhstan. President of the country Kassym-Jomart Tokayev said that last year completed with a 4% increase in gross domestic product. The Government of Kazakhstan expects that these economic growth measures will be maintained during the year as well. According to the authorities’ projection, the capacity of investments in the country’s economy can grow in 2022 to 18.5% of GDP. In 2020, the economy of Kazakhstan experienced a recession. At the end of the year, it decreased by 2.6%. The government proclaimed that it intends to set fixed gas prices for domestic consumption onset from January 1, 2024. Today it also became known about the trade growth between Kazakhstan and the Russian Federation in 2021 to a record amount. It amounted to $24 billion, which is $5 billion or 26.3% more than the volume of trade between countries in 2020. The amount of investments of Russian investors in the economy of Kazakhstan reached $43 billion in 2021.


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Arseny Kudrin

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