Kazakh Ministry of National Economy forecasts 4.8 percent GDP growth in 2015

Baku, Azerbaijan, Nov. 19

By Elena Kosolapova - Trend:
Kazakhstan's GDP growth is expected at 4.8 percent in 2015. It was announced by First Deputy Minister of Kazakh National Economy Marat Kusainov on Nov. 19, Kazinform reported.

"GDP growth is forecasted to reach 4.8 percent in 2015, or 0.2 percentage points below the previously approved forecast. In the 2016-2019, GDP growth is expected at 5.3 - 6.7 percent," the deputy minister said.

Nominal GDP is expected to reach 43.721 trillion tenge (180.87 tenge = $1) in 2015. The forecast decreased by 1.311 trillion tenge compared to the level approved in August. The new forecast predicts that nominal GDP will raise to 70.754 trillion tenge by 2019.

GDP per capita is expected to increase from $13,500 in 2015 to $20,800 per capita in 2019.

"The level of inflation will remain in the same range of 6-8 percent with a consequent reduction in the medium term to 5-7 percent in 2015," Kusainov added.

Deputy Minister noted that the updated forecast of macroeconomic indicators was prepared taking into consideration the revised indicators of economy growth in 2014, the current situation in world commodity markets, the adjusted forecasts of international organizations for global growth and the dynamics of world prices for the main export commodities.

Edited by C.N.