NUR-SULTAN (Pakistan Point News / Sputnik - 12th January, 2021) SULTAN, January 12 (Sputnik) - Kazakhstan's GDP decreased by 2.6 percent in 2020, Minister of National Economy Ruslan Dalenov said.
"The GDP growth rate was negative 2.6 percent," Dalenov said at a Tuesday government meeting, announcing the 2020 social-economic development results.
In October of last year Dalenov said that Kazakhstan was forecasting a GDP decrease of 2.1 percent in 2020.
In March, Kazakhstan's National Economy Ministry forecast a GDP growth of 4.1 percent for 2020, but after the collapse on world commodity and financial markets, the forecast was revised to a 0.9-percent decrease.
According to Dalenov, international financial organizations predict that the economic decline in Kazakhstan will be followed by steady positive growth starting from 2021.