Kazakhstan's GDP growth accelerating

Business Materials 29 March 2019 12:02 (UTC +04:00)

Baku, Azerbaijan, Mar. 29

By Rashid Shirinov – Trend:

Kazakhstan's GDP growth made up 3.5 percent in the first two months of 2019, thus accelerating compared to January, when the growth was 2.9 percent, Trend reports via Kazakh media.

According to the preliminary results of 2018, Kazakhstan's GDP reached a record 58.8 trillion tenge. Real GDP growth was 4.1 percent. The increase was provided by positive dynamics in almost all sectors of the economy.

According to estimates of the Ministry of National Economy of Kazakhstan, this year GDP growth will be 3.8 percent. International development institutions also support this forecast. Thus, according to the European Bank for Reconstruction and Development, real GDP growth in Kazakhstan in 2019-2020 will be at 3.5-4 percent.

Also, the World Bank's leading economist for Central Asia, Julio Revilla, predicted that GDP growth will drop to 3.5 percent in 2019, and in the medium term after 2019 it will be 3.2 percent.

Nevertheless, the Prime Minister of Kazakhstan Askar Mamin believes that the Kazakh economy is capable of a greater growth this year. Recently, he demanded that the Cabinet of Ministers ensure GDP growth of at least 5 percent in 2019.


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