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Kazakhstan expects more than 2 percent GDP growth in 2016

Business Materials 15 September 2015 19:39 (UTC +04:00)
The government of Kazakhstan expects a 2.1 percent growth in gross domestic product of the country in 2016

Baku, Azerbaijan, Sept. 15

By Elena Kosolapova - Trend:

The government of Kazakhstan expects a 2.1 percent growth in gross domestic product of the country in 2016, the press service of the Majilis (lower chamber of parliament) of Kazakhstan said Sept.15.

The gross domestic product growth is envisaged in the socio-economic development of Kazakhstan for 2016-2020, approved by the government.

In accordance with the forecast, the real GDP growth in Kazakhstan is expected to reach 3.6 percent in 2017, 2.9 percent in 2018, 3 percent in 2019 and 3.1 percent in 2020.

In 2014, real GDP growth in Kazakhstan amounted to 4.3 percent. In the first half of 2015, the GDP growth in Kazakhstan amounted to 1.7 percent.

"The nominal GDP growth for 2016-2020 is projected at 7.4-9.8 percent," said the message.

In accordance with the forecast, GDP per capita in Kazakhstan will amount to more than $10,000 in 2016 and increase to $13,200 in 2020.

Exports will increase from $41 billion in 2016 to $55.1 billion in 2020, and imports - from $28 billion in 2016 to $30.5 billion in 2020.

The inflation rate in 2016-2017 is planned at the level of 6-8 percent, in 2018 - 5.7 percent, in 2019 - 4.6 percent, in 2020 - at the level of 3-4 percent.

The formation of the forecast takes into account the results of the development of sectors of the economy in 2014, data of state bodies on the expected volume of main products in 2016-2020, as well as forecasts of international organizations on the growth of the world economy and world prices for the main export commodities.

The budget of Kazakhstan for 2016-2018 was drafted on the basis of this forecast.

Edited by CN

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