Nine-month figure maintains momentum of 4.2% posted for first half of year, growth very much reliant on mild Russian economic recovery and relaunch of giant Kashagan oil field.
Last year saw total mutual FDI stock within the bloc reach $26.8bn with Russia remaining responsible for the lion’s share of outward investment.
Azerbaijan’s economy will shrink by 1% this year, according to the latest IMF forecast, but will return to growth next year with a 2% expansion, the fund predicts.
The National Bank of Kazakhstan has revised its 2017 GDP growth forecast from 2.8% to 3.1%, the bank said on August 22.
Kazakhstan’s central bank cut its key policy rate by 25 basis points to 10.25% on August 21. At the same time, the bank said it is aiming to maintain the rate four percentage points above the level of inflation.