Kazakhstan’s economy shrank in February as the COVID-19 pandemic impacted business activity, total.kz reported.
GDP growth improved to minus 2.9% in January-February from minus 4.5 percent in January, total.kz said, citing National Economy minister Asset Irgaliyev.
International rating agencies predict gross domestic product (GDP) will grow between 3.2 percent and 3.8 percent this year as sectors such as construction, water supply, manufacturing, electricity and agriculture, information and communication, showed steady growth, Irgaliyev said.
Irgaliyev said increased vaccination would help bring the pandemic under control, helping normalise economic growth and restart business growth. The number of new cases of COVID-19 in Kazakhstan continued to fall, Irgaliev said.