IMF upgrades outlook of Kazakhstan’s GDP growth in 2012

Azerbaijan, Baku, April 18 / Trend E. Kosolapova/

The International Monetary Fund (IMF) forecasts a 5.9-percent real GDP growth in Kazakhstan in 2012 and a 6-percent GDP growth in 2013, Novosti-Kazakhstan reported with reference to the organization.

In October 2011, the IMF forecasted a 5.6-percent growth in Kazakhstan's economy in 2012.

Earlier, Kazakh government and Kazakh National Bank forecasted real GDP growth at the level of 6-7 percent.

Moreover, according to the IMF, the inflation rate will hit 5.5-percent in 2012 and 7 percent in 2013. In its previous review, the fund forecasted 7.9-percent inflation in Kazakhstan in 2012.
According to Kazakh authority's medium-term forecast, the inflation will reach 6-8 percent in Kazakhstan. As of April 1, the annual inflation rate hit 4.6 percent.

According to IMF experts, the unemployment rate in Kazakhstan will hit 5.4 percent in 2012 and 5.3 percent in 2013.