Samruk-Kazyna makes forecast on Kazakhstan’s GDP growth
Baku, Azerbaijan, Aug. 31
By Elena Kosolapova – Trend:
Kazakh National Wealth Fund Samruk- Kazyna forecasts GDP growth in Kazakhstan at 0.8-1.0 percent in 2016, premised on average annual oil price of $43 -$45/bbl, the fund said in its report published on Aug. 31.
Average inflation is projected at 13-14 percent in 2016. In Jan. – July 2016 inflation average inflation stayed at record highs of 16.2 percent in Kazakhstan.
The fund cautions that decline in global oil prices may cause the national currency tenge to weaken.
However, any weakening of the tenge will not be sharp as the regulator plans to participate in the foreign exchange market to smooth out significant fluctuations, Samruk-Kazyna said.
Kazakhstan's GDP growth hit 1.2 percent in 2015. Inflation in Kazakhstan stood at 13.6 percent in 2015.
Edited by SI
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