Fitch forecasts Kazakhstan’s GDP decline in 2016

Business Materials 1 July 2016 20:37 (UTC +04:00)

Baku, Azerbaijan, July 1

By Elena Kosolapova – Trend:

Fitch Ratings forecasts that Kazakhstan’s real GDP will decrease 1 percent in 2016 compared to 1.2 percent-growth in 2015 and 4.3 percent-growth in 2014.

GDP growth will be resumed in Kazakhstan in the nearest years and will reach 2 percent in 2017 and 3 percent in 2018, according to Fitch’s forecasts published in its ‘Emerging Europe Sovereign Credit’ overview.

According to Fitch, inflation, which was 15.7 percent in March 2016 – the highest index for the last seven years – will drop to 10 percent by late 2016 as the exchange rate corridor is being reduced.

Fitch rated Kazakhstan at BBB level with a stable outlook.


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