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Kazakhstan to produce 86 million tons of oil in 2021


    Kazakhstan is projected to produce 86 million tons of oil next year, according to the country's Minister of National Economy Ruslan Dalenov on Thursday.

    Speaking at the Kazakhstan Senate about projections on the country's socioeconomic development between 2021-2025, the Kazakh minister said this production volume is expected to reach 100.7 million by 2025.

    "We expect positive growth in the economy's main sectors. The manufacturing sector will grow rapidly with an increase of 6.7%, an annual growth of 6.2% in agriculture and 5.5% in trade will be seen," Dalenov added.

    Exports are forecast to be around $41.4 billion in 2021, while this amount is expected to reach $51.5 billion in 2025, according to Dalenov.

    "Meanwhile the import sector will rise to $37.8 billion in the coming five years from $36.3 billion," he said, adding that Kazakhstan's gross domestic product will see a rise of 4% in the same period, while this figure is projected to reach 4.6% in 2025.