Baku, Azerbaijan, Dec. 7
By Rashid Shirinov – Trend:
The National Bank of Kazakhstan forecasts the country’s economic growth of 2.7 percent in 2019, Trend reports citing Kapital.kz.
"The main driver of economic growth will be the growth of domestic consumer demand. The positive dynamics of investment activity will remain, primarily in the mining industry and housing construction," the bank noted.
In addition, the increase in exports of goods and services will be associated with further growth in oil and gas condensate production at the Kashagan field, according to the National Bank.
The regulator also noted that the economy of Kazakhstan remains subject to external shocks.
"Oil prices are still a significant factor determining the dynamics of economic activity," the National Bank noted.
Under the $40 per barrel scenario, there is a significant risk of annual inflation going beyond the upper bound of the target band in 2019-2020, which will require adjustment of monetary conditions, according to the regulator.
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