BAKU, Azerbaijan, Apr. 15
By Nargiz Sadikhova - Trend:
Kazakhstan’s real GDP is projected to decrease by 2.5 percent in 2020 compared to increase of 4.5 percent in 2019, Trend reports with reference to the International Monetary Fund’s (IMF) World Economic Outlook for April 2020.
The IMF said in the report that Kazakhstan’s real GDP will grow by 4.1 percent in 2021 notwithstanding the decrease in 2020. The previous IMF report said that GDP’s increase in Kazakhstan will be 3.9 percent in 2020.
Kazakhstan’s consumer prices are expected to grow by 6.9 percent in 2020 and by 6.8 percent in 20201, according to IMF. The IMF said that consumer prices increased by 5.2 percent in Kazakhstan in 2019.
Country’s current account balance is expected to decrease by 6.8 percent in 2020, and by 5.5 percent in 2021. Unemployment rate in Kazakhstan is projected to be 7.8 percent in 2020 and 5.8 percent in 2021 compared to 4.8 percent in 2019.
The reconsidered forecast of socio-economic development of Kazakhstan for 2020-2024 of Kazakhstan’s Ministry of National Economy said that Kazakhstan’s GDP value will be 69.7 trillion tenge in 2020 (compared to 74.5 trillion tenge forecast previously) or $158.4 billion based on the current exchange rate ($196.1 billion previously).
Real GDP change is forecast to be minus 0.9 percent compared to previously forecast growth by 4.1 percent.
The ministry’s forecast said that inflation in the country will be 9-11 percent in 2020 compared to previously forecast 4-6 percent.
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