Kazakh economy shrinks 2.3% in H1
ALMATY. Aug 13 (Interfax) - Kazakhstan's GDP fell 2.3% year-on-year to 6.446 trillion tenge in the first half of 2009, the State Statistics Agency said.
Manufacturing accounted for 39% of GDP (chiefly industry with 28.7%) and services for 61%.
The National Bank had forecast GDP might fall 4.1% in the half. It is expecting between zero and 1% growth for the year, and the Economics Ministry is forecasting 1% growth. The International Monetary Fund (IMF), however, expects the economy to contract by 2%.
GDP grew 3.2% in 2008.