BAKU, Azerbaijan, Apr. 6
By Nargiz Sadikhova - Trend:
Kazakhstan's real GDP will grow by 3.2 percent in 2021 and by 4 percent in 2022, Trend reports citing the World Economic Outlook report of International Monetary Fund (IMF).
The report noted that the GDP growth will be restored following a contraction by 2.6 percent in 2020.
The IMF also forecasts consumer prices to increase by 6.4 percent in 2021 and by 5 percent in 2022 in Kazakhstan which is lower than 6.8 percent in 2020.
Kazakhstan’s current account balance will decrease by 1 percent and by 1.5 percent in 2021 and 2022, respectively. IMF also forecasts that the unemployment level in Kazakhstan will go down to 5.2 percent in 2021 from 5.5 percent in 2020, and then further to 5 percent in 2022.
In turn, the Eurasian Development Bank (EDB) predicts the active recovery growth of the economy of Kazakhstan.
The country's GDP will increase by 4 percent this year, the EDB said in its report published April 1.
"The further weakening of the negative impact of the COVID-19 pandemic on business activity will be the key factor. The biggest growth will occur in the intra-annual dynamics in the second quarter of 2021, which will be primarily stimulated by the low base of the same period of the previous year when the work of most of the enterprises was suspended due to the introduction of quarantine measures," the EDB said.
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