Kazakhstan’s gross domestic product (GDP) grew by 4.8 percent in January, the country’s Prime Minister Karim Masimov told his Cabinet in Astana on Tuesday.
“Unfortunately, we are witnessing a slowdown in the economic growth in January. It dropped to 4.8 percent. Industrial growth has also slowed down,” Masimov said.
According to Masimov, the Ministry of Economy has to analyze each factor until next Tuesday and provide information for a response action plan.
In 2011, Kazakhstan’s economy expanded by 7.5 percent. Earlier, Masimov set a goal to ensure a 7-percent growth in GDP by the end of 2012 despite the global financial crisis.