Kazakhstan GDP rises by 7%

Oct 31. New Europe

Kazakhstan GDP rises by 7%Kazakhstan’s President Nursultan Nazarbayev recently announced that the country’s economy is showing good growth.

He said that in January -September of the year, the country gross domestic product went up by 7.5%, Gazeta.kz reported.

The government prognosis states that the national economy will grow 5% this year as compared to 1.2% in 2009.

In the first half of 2010, GDP rose 8%.

Industrial output increased by 10% in January to September 2010, including manufacturing 20%, chemical production 77% and machine-building 56%.

Since the start of this year, 200,000 new jobs were created.

Data unveiled by the Republic of Kazakhstan Agency of Statistics showed that in the first nine months of this year, the country registered a 5.5% Year on Year in its crude steel production but a 6% YoY decrease in its production of flat rolled steel to about 3.16 million tonnes and 2.14 million tonnes respectively.

In January to September this year, Kazakhstan output of ferroalloys increased by 25.5% YoY to 1.3 million tonnes, its iron ore production increased by 134.5% to 37.83 million tonnes while its iron ore pellet production went up by 51.4% YoY to 5.88 million tonnes.