Kazakhstan Economy Resists Oil Output Downturn with 4.1% Growth

Kazakhstan's economy showed resilience in the first seven months of this year, with a GDP growth rate of 4.1%. According to preliminary data from the Bureau of National Statistics, cited by the country's government press service, the non-oil sector was the main driver behind this growth, expanding by 5.4%.

The Ministry of National Economy pointed out that economic growth remained steady despite a decline in oil production and fluctuations in global markets. In fact, Kazakhstan's oil output fell by 8.9% year-on-year to 53.2 million tons between January and July.

This downturn was significant compared to the previous year, when the country produced approximately 99.6 million tons of oil. The government has set an oil production target for this year at 98 million tons.