January 26th local time, Kazakhstan Prime Minister Ma Ming said that the government will take a number of measures this year to overcome the impact of adverse factors such as the COVID-19 epidemic and ensure that the GDP growth rate reaches at least 3%.
At the expanded government meeting held on the same day, Ma Min said that Kazakhstan’s GDP fell by 2.6% in 2020, ensuring that economic growth remains at 3%, is the main task of the government’s work in 2021.
According to the forecast of the Central Bank of Kazakhstan, the country’s GDP growth is expected to reach 3.7% to 4% in 2021.
Kazakhstan Central Bank Governor Dosayev said at the meeting that the domestic economy will resume growth momentum from the second quarter of this year.
He pointed out that the central bank’s above forecast is premised on the stability of international oil prices at $45 per barrel.
In early January this year, the Asian Development Bank predicted that Kazakhstan’s economy growth is expected to reach an average of 4.7% in 2021 and 2022.