Economics

GDP of Kazakhstan decreased by almost 3% since the beginning of the year

Photo: yandex.com
At the Government meeting, Minister of National Economy of the Republic of Kazakhstan Ruslan Dalenov spoke about the results of the country's socio-economic development in January-July 2020, Kazpravda.kz reports.

"The production of goods increased by 2.1%, while the production of services decreased by 6.2%. As a result, according to operational data, the GDP fell by 2.9%. The annual inflation was 7.1%. This is below the expected inflation corridor (8-8.5%)", - said Dalenov.

In addition, growth continues in the real sector of the economy.

"First of all, in construction, manufacturing, agriculture industries. A positive trade balance is maintained against the background of a decrease in imports," the minister said.

At the same time, there is a decrease in the volume of services due to quarantine restrictions, as well as a planned decrease in the rate of oil production, which has become a constraining factor in economic growth.
Author:
Zhanat Tukpiev
10:42, 11 August 2020
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