Baku, Azerbaijan, Apr. 24
By Fakhri Vakilov –Trend:
The international rating agency Fitch Ratings predicts the growth of the economy of Kazakhstan in 2019 at the level of 3.4 percent, and by 3.2 percent in 2020, Trend reports via Kazakh media.
“We expect that GDP will fall in the next three years due to the fact that oil production will be reduced compared to 2018,” said Marina Stefani, director of analytical group of sovereign ratings at Fitch Ratings, at the agency’s annual conference on Kazakhstan.
She states that inflation will decline to 5.3 percent in 2019 and 4.5 percent in 2020.
“We believe that low oil prices over the next few years, as well as fiscal easing, will lead to the import of consumer goods and will have an impact on the government balance,” Stefani noted.
The economy of Kazakhstan in 2018 increased by 4.1 percent, inflation was 5.3 percent.
The official forecast of GDP growth for 2019 is 3.8 percent; the target corridor for annual inflation is 4-6 percent.
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