BAKU, Azerbaijan, Oct. 20
It is expected that the current account deficit of the balance of payments will decrease and move into a surplus zone in the next 5-year period, Chairman of the National Bank of Kazakhstan (NBK) Yerbolat Dossayev, Trend reports citing the Kazakh media.
“The measures planned by the Government to increase non-resource exports will significantly improve the state of the balance of payments of Kazakhstan in the forecast period,” Dossayev said at a plenary meeting of the Kazakhstan Parliament.
In accordance with the forecast of socio-economic development in the next 5-year period, it is expected that the deficit of the current account of the balance of payments will decrease and a transition to the surplus zone is expected.
With a scenario oil price of $60 per barrel, the current account balance of the balance of payments goes from a deficit (-) 1.2 percent to GDP in 2022 to a surplus (+) 0.6 percent to GDP in 2023 and becomes stable at the level ( +) 1.9 percent of GDP in 2026.
“The NBK will continue to work actively together with the Government to overcome the negative consequences of the global COVID-19 pandemic, reduce inflationary pressures and ensure macroeconomic stability,” Dossayev added.