IMF raises GDP growth forecast for Kazakhstan to 5.9% y/y this year.

By bne IntelliNews May 5, 2011
The IMF raised its GDP growth forecast for Kazakhstan to 5.9% y/y this year. The main reason is resurgent commodity prices growth in Russia and China. The fund also noted that high oil prices and state support were enabling Kazakhstans economy to outperform other emerging markets despite the residual effects of its banking crisis. At the same time, the fund noted that the policymakers should be ready to tackle rising food prices and capital inflows as well as diversifying economy beyond oil and gas sector. The IMF also stressed that Kazakhstans pace of recovery compares favourably with other emerging economies and Kazakhstan is achieving the high growth rate despite serious difficulties in the banking sector. This is possible thanks to high oil prices and public sector support. To remind you, the IMF originally projected GDP growth at 4.5-5% in 2011.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Kazakhstan in talks with McDonald's.

Kazakhstan is in talks over McDonald's enter to the Kazakh market, President of the Eurasian Franchising Association, Beknur Kissikov has said. He added that the main reasons that McDonald's is ... more

Kazakhstan to establish institute for energy and energy effectiveness.

Kazakhstan will establish institute for energy and energy effectiveness, deputy PM and Minister of Industry and New technologies Aset Isekeshev has informed. The new entity should start operating ... more

Kazakhstan to diminish oil products imports from Russia.

Kazakhstan plans to diminish oil products imports from Russia, according to Kuandyk Kulmurzin Director of oil industry development department in Oil and Gas Ministry. He explained that the reason ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    9 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss