Baku, Azerbaijan, Sept. 17
Trend:
Kazakhstan’s GDP will grow 3.7 percent in 2018 and 3.1 percent in 2019, according to the forecast of the International Monetary Fund (IMF), Kazakh media reported Sept. 17.
The growth rate of Kazakhstan’s economy increased due to an increase in oil production and activity in trade and manufacturing industry, the IMF said in its report.
High volumes of exports contribute to the improvement of the current external transactions account, according to the report. The growth is expected to remain stable, although risks exist, the IMF said.
In line with the IMF estimates, the growth rate of the non-oil sector of Kazakhstan in the medium term should further increase due to structural reforms, as well as the improvement and development of the financial sector.
In addition, inflation in Kazakhstan will be 6 percent in 2018 and 5.2 percent in 2019, according to the IMF.
In the April 2018 World Economic Outlook, the IMF forecasted Kazakhstan’s GDP growth at 3.2 percent in 2018 and at 2.8 percent in 2019.
Earlier, the IMF forecasted inflation in Kazakhstan at 6.4 percent in 2018 and at 5.6 percent in 2019.