National Bank Of Kazakhstan Presents Short Review Of Economy

National Bank Of Kazakhstan Presents Short Review Of Economy

The National Bank of Kazakhstan presented an overview of the economy for 8 months of 2016. In January-August 2016, short-term indicator decreased by 0.5% towards the corresponding period of the previous year.

The decline of the indicator was caused by decrease in industrial production, including mining, trade and communication spheres. According to the Bank, in January-August 2016, there was continued growth in the manufacturing industry, agriculture, construction and transport spheres. A slowing growth of investment in fixed assets was fixed also.

GDP in H1 of 2016 amounted to 19.4 trillion tenge having increased in real terms by 0.1% compared H1 2015. Production of goods was decreased by 0.2%, while the production of services remained unchanged. Taxes on products are increased by 3.5%. In H1of 2016, shares of production of goods and services in GDP amounted to 35.4% and 58.2% respectively.

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