EXTRACTIVE INDUSTRY

The diversified economy has never been created in Kazakhstan, President of the Republic of Kazakhstan Kassym-Jomart Tokayev said during a meeting with businessmen, Trend reports with reference to Kazakh media.

"It is possible to conditionally single out two economic turning points,” President Tokayev said. "The first is the transition from the planned economy to the market economy. While experiencing major shocks and suffering losses, Kazakhstan was able to rise and adapt by carrying out hard but necessary reforms."

Economic growth of Kazakhstan accelerated to 3.8% in January-November of this year, Kazinform correspondent reports.

At a government session, Asset Irgaliyev, Minister of National Economy, said that the Kazakh economy accelerated in January-November this year, growing by 3.8%. Higher rates of growth in the service sector, stable growth in the real sector, accelerating trade balance due to higher rates of export growth, greater investment activity in non-primary sectors were observed over the said period.

For the purpose of geological exploration and exploitation of the Gashgachay, Elbaydash and Agduzdag ore deposits in Azerbaijan, contracts have been signed with the leading Turkish companies in this field, Eti Bakır A.Ş. and Artvin Maden A.Ş, Trend reports via Azerbaijani Economy Minister Mikayil Jabbarov's Twitter publication.