EBRD downs GDP growth forecast for Kazakhstan
Baku, Azerbaijan, Nov. 3
By Elena Kosolapova – Trend:
The European Bank for Reconstruction and Development (EBRD) decreased its forecast for real GDP growth in Kazakhstan in 2016.
EBRD said on Nov. 3 that it expects GDP growth in Kazakhstan to reach 0.7 percent, which is 0.4 percent less compared to the forecast published in May.
The 2017 GDP growth in Kazakhstan is expected at 2.4 percent. The forecast for 2017 remained unchanged compared to the bank’s forecast in May.
In 2015, according to the EBRD, the growth of Kazakh GDP amounted to 1.2 percent compared to 4.3 percent in 2014.
Meanwhile, Kazakh Economy Ministry expects GDP growth to reach 0.5 percent in 2016. The International Monetary Fund expects Kazakhstan’s GDP growth to contract by 0.8 percent in 2016.