EBRD improves forecasts on economic growth in Kazakhstan

Business Materials 10 May 2018 11:54 (UTC +04:00)

Baku, Azerbaijan, May 10

By Ali Mustafayev – Trend:

The European Bank for Reconstruction and Development (EBRD) has improved its forecast for economic growth in Kazakhstan for 2018 from 3.5 to 3.9 percent, according to an updated “Regional Economic Prospects” report of the bank.

In 2019, the bank forecasts a 3.8 percent increase of Kazakhstan’s economy.

The EBRD's forecasts for the growth of Kazakhstan's economy in 2016 and 2017 were 1.1 and 4 percent respectively.

In January-February 2018 Kazakh economy has grown by 4 percent.

The inflation has slowed down to 1.3 percent from the beginning of 2018, which is the lowest rate for the last several years.

International reserves of Kazakhstan have grown 2 percent to $90.8 billion during the January-February 2018. Gold and foreign currency reserves of the country have increased by 2.2 percent to $31.4 billion. Assets of the National Funds have grown 1.8 percent to $59.4 billion.

The inflation rate in Kazakhstan amounted to 0.7 percent in February 2018, compared to January 2018, and to 1.3 percent, compared to December 2017.

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