BAKU, Azerbaijan, Oct. 14
By Nargiz Sadikhova – Trend:
Eurasian Development Bank (EDB) forecasts that Kazakhstan’s GDP will grow by an average of 4.7 percent from 2021 through 2022 following a drop of 2.5 percent in 2020, Trend reports citing the report of EDB.
The EDB’s basic scenario said that the softening of quarantine restrictions in 2H2020 and the preservation of the stimulating monetary and fiscal policies form the conditions for the restoration of economic activity. The anti-crisis support from the state will be maintained in 2021, which will also soften the negative impact of the pandemic on the economy.
The growth rate of the consumer price index in the current year has accelerated somewhat under the influence of the exchange rate fluctuations. By the end of 2020, the EDB forecasts inflation to increase by 7.1 percent year-on-year, and the pressure on prices will continue to shift to the weakening of the national currency.
The EDB Senior Analyst Aigul Berdigulova said that the risks remain elevated due to the instability of the emerging economic recovery amid the continuing threat of a large-scale second wave of the pandemic the negative impact of which can be broadcast to the economy of Kazakhstan through trade and financial channels.
---
Follow the author on twitter: @nargiz_sadikh