Tokayev said that inflation in Kazakhstan reached a historic high in November
In November, inflation in Kazakhstan reached 19.6 percent in annual terms. This is a historical maximum, President Kassym-Jomart Tokayev said, his words are quoted TASS.
“Of course, such a situation has the most negative impact on the standard of living and income of the population,” he said. Tokayev added that over the past 11 months, economic growth has slowed down from 4.6 to 2.7 percent. Prime Minister Alikhan Smailov explained that the rise in prices was influenced by the growth of geopolitical tensions and the introduction of restrictions on the export of certain goods to neighboring countries.
In 2021, the country’s economy increased by four percent. According to Smailov, according to forecasts, the growth of the republic’s GDP in 2023 will be at least four percent.
Earlier, the Ministers of Foreign Affairs and Transport of Kazakhstan, Azerbaijan, Georgia and Turkey agreed on the principles of operation of the Trans-Caspian International Transport Route (TITR) for the next five years. This route will increase the supply of goods from Kazakhstan bypassing Russia to ten million tons per year.
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