The government in Kazakhstan has, in the light of the unfolding coronavirus pandemic and the concomitant fall in global oil prices, revised its economic projections for this year to forecast a 0.9 percent contraction. Before the current crisis hit, gross domestic product, or GDP, had been expected to expand by 4 percent. National Economy Minister Ruslan Dalenov said on April 2 that the value of Kazakhstan’s exports has been especially badly hit. “Exports will drop by $16.3 billion to $35.1 billion. Imports will decline by $7.5 billion to $26.6 billion,” he said. “(Anticipated) nominal GDP is estimated at 69.7 trillion tenge ($155 billion), which is 4.8 trillion tenge ($10.6 billion) lower than the earlier forecast.” Dalenov pointed to the confluence of negative global factors as the main contribution to the slowdown. The government’s radical measures to halt coronavirus in its tracks have brought vast swathes of the economy to […]