Kazakhstan’s economy contracted 1.8% – President

NUR-SULTAN. KAZINFORM – Kazakhstan’s economy is developing in difficult circumstances since the beginning of this year, Head of State Kassym-Jomart Tokayev stated at the extended session of the Kazakh Government on Friday, Kazinform reports.

While opening the extended session of the Government, President Tokayev highlighted that the session will discuss the issues regarding the ongoing battle against the coronavirus infection and sum up the results of socioeconomic development of Kazakhstan in the first half of 2020.

According to the Head of State, Kazakhstan’s economy has contracted 1.8%. He admitted that the service sector had been hit the hardest due to the coronavirus pandemic as it had witnessed a massive 5.6% drop.

Kassym-Jomart Tokayev continued by reminding that the Government had assumed important measures to support the population and business during the pandemic and adopted the comprehensive plan to restore the economic growth.

Addressing the extended session of the Government will be Prime Minister Askar Mamin, Chairman of the National Bank Yerbolat Dossayev, Healthcare Minister Alexei Tsoi as well as a number of governors of the regions.