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National Bank: Kazakhstan's GDP decreased by 1.8%

20 July 2020 22:03

NUR-SULTAN. KAZINFORM - According to the results of the first half of 2020, Kazakhstan's GDP has decreased by 1.8%, while the forecast was -1.5%. This is due to the downturn in the service sector, despite the relaxation of quarantine measures and the opening of trade and catering facilities from mid-May 2020. Kazinform reported with the reference to the press service of the National Bank.

According to the National Bank, such industries as information and communication (9.0%), healthcare, education and public administration made a positive contribution to the GDP dynamics.

There is an increase in the production of mining (2.2%) and manufacturing (4.8%). Economic activity is also supported by the expansion of construction (by 11.2%) and an increase in gross agricultural output (by 2.4%).

According to the National Bank, the volume of investments in fixed has decreased by 2.9%.