Kazakh parliament revises budget until 2018

Business Materials 25 November 2015 16:45 (UTC +04:00)

Baku, Azerbaijan, Nov. 25

By Elena Kosolapova - Trend:

Parliament of Kazakhstan has adopted a revised republican budget for 2016-2018, said the message posted on the website of the prime minister of Kazakhstan.

The price of oil is budgeted at $40 per barrel in 2016-2017 and $50 per barrel in 2018-2020. The average annual growth of world metal prices for the five-year period is projected at 2.4 percent.

The real economy growth in the budget is projected at 2.1 percent in 2016, 3.6 percent in 2017, 2.9 percent in 2018, 3 percent in 2019, 3.2 percent in 2020.

Nominal GDP of Kazakhstan in 2016 is expected to reach 45.5 trillion tenge with subsequent increase to 63.9 trillion tenge in 2020. GDP per capita is projected at $8,557 in 2016 with an increase to $11,470 in 2020.

The budget has been revised due to changes in the forecast of socio-economic development of Kazakhstan for 2016-2020.


Follow the author on Twitter: @E_Kosolapova