After 2 years of strong recovery, the Kazakh economic growth slowed from the over 7% yearly pace recorded in 2010 and 2011, to 5% in 2012.
Similarly to the past years, the service sector was the main source of growth. As industry largely stagnated and a severe drought cut agricultural output by nearly 18%, the contributions of these two sectors to the GDP growth fell to their lowest levels in 15 years.
According to an Asian Development Bank analysis, “growth is expected to recover slowly, to 5.2% in 2013 and 5.6% in 2014, as continued government investment spending boosts domestic demand.”
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