WB representative: Kazakhstan needs to strengthen internal reforms
Baku, Azerbaijan, Nov. 30
By Rashid Shirinov – Trend:
Kazakhstan needs to strengthen internal reforms to achieve the goal of joining the Top-30 developed countries of the world, the World Bank (WB) Country Manager for Kazakhstan Ato Brown told reporters in Astana.
He commented on the increase in the WB forecast of Kazakhstan's GDP growth for 2018 from 3.7 to 3.8 percent.
"In general, the macroeconomic situation in Kazakhstan is stable and the almost 4 percent GDP growth predicted is a very good indicator, given that in the global situation many countries have problems with growth," Brown said.
The expert added that Kazakhstan is showing good results: for example, the country has increased its position in the Human Capital Index of the Doing Business ranking.
"We need to understand that the world today is in very difficult conditions - with sanctions against Russia and a decline in China's economic development, Kazakhstan will have difficulties, and, therefore, it is necessary to strengthen internal reforms to achieve the goal of joining the Top-30 developed countries of the world," Brown said.
He also noted that Kazakhstan should focus on productivity.
"Only through increasing productivity revenues will increase and new opportunities for people will appear," the WB country manager said.
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