BAKU, Azerbaijan, March 16. Kazakhstan’s gross domestic product (GDP) growth reached 4.3 percent in year-over-year terms from January through February 2023, Trend reports, citing Renaissance Capital.
Retail trade growth slowed to 6.5 percent in February in year-over-year terms after recording 20.8 percent in January 2023.
Renaissance Capital also noted that the industrial production growth amounted to 1.7 percent YoY in February, after 1.4 percent in January.
The Bank predicts the GDP growth in Kazakhstan to reach 4 percent year-over-year, compared to a growth of 3.2 percent in 2022.
The drop from a strong result obtained in January (5.6 percent YoY growth) was anticipated due to the dynamics of last year when economic activity decreased sharply in January and recovered in February due to domestic instability.
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