BAKU, Azerbaijan, Jun. 8
By Nargiz Sadikhova - Trend:
Kazakhstan’s GDP growth to be -0.9 percent in 2020, Kazakhstan’s Minister of National Economy Ruslan Dalenov said, Trend reports with reference to Kazakh media.
Dalenov made the statement during a press briefing held on Jun. 8, 2020.
“Taking into account all factors, GDp growth is expected to be negative in 2020. The approved forecast said that the economic growth will be -0.9 percent. This is almost a percent less than the initial forecast said,” Dalenov explained.
The GDP forecast made by Ministry of National Economy in 2019 said that the economic growth will be 4.1 percent in 2020.
"Global economies are faced with great uncertainty. The economic challenges are global. All countries are taking active measures to support the economy. In the current situation, it is important to quickly respond to any changes in the situation and take preventive measures," Dalenov said.
He added that Kazakhstan is introducing anti-crisis measures and a comprehensive plan to save the economy. A special state commission is also operating on the issue.
Physical volume of Kazakhstan’s GDP amounted to 14.3 trillion tenge ($33.8 billion based on current exchange rate) in 1Q2020, which is 2.7 percent more than during 1Q2019 (13.1 trillion tenge or $31.2 billion), preliminary data said.
Fifty-six percent of the total GDP value account for paid services, 36.7 percent account for goods manufacturing, and 7.3 percent account for net tax.
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