IMF on Kazakhstan’s 2015 GDP growth prospects

May 19. Tengrinews

IMF on Kazakhstan’s 2015 GDP growth prospectsThe International Monetary Fund forecasts that Kazakhstan’s 2015 real GDP growth will stand at 2%, accelerating to 3.1% in 2016, according to the Fund’s Bulletin on economic prospects of Caucasus and Central Asia.

The country’s GDP growth figure in 2014 made up 4.3%.

According to the Bulletin “in major oil exporting nations of the region, falling prices for oil and Russia’s shrinking economy have been exacerbated by diminishing oil production figures in Kazakhstan and Azerbaijan”.

According to the IMF, the 2015 inflation figure is expected at 5.2%, slightly rising to 5.5% in 2016.

The Fund believes the country’s negative current account balance will stand at 4.1% of the GDP at the end of the year, falling to 3.1% in 2016.