Kazakh PM remains optimistic about 6% GDP growth in 2013.

By bne IntelliNews June 16, 2013

Kazakh PM Serik Akhmetov confirms that GDP growth is expected at 6% this year, despite global slowdown and a decline in the key sectors of the Kazakhstan's economy - metals and mining industry. GDP expanded by 5% in Jan-May. However, the PM believes that measures aimed to stimulate domestic market and the existing potential in the development of infrastructure, agriculture, construction and transportation will help to withstand recession and bring economic growth up 6%.

Kazakhstan's GDP expanded by 5% last year.  International financial institutions expect Kazakhstan's economy to expand by around 5% this year (IMF - 5.25%, Moody's - 5%). This level of growth mainly depends on Kashagan field which is about to launch oil production in September.  

Related Articles

US investor reportedly to replace CEFC in refinery deal with KazMunayGas

A US investor backed by Overseas Private Investment Corporation (OPIC) might replace troubled China Energy Company Limited (CEFC) and take over 51% of KazMunayGas International ... more

ADB sees general Central Asia slowdown in 2018

The Asian Development Bank’s (ADB’s) Asian Development Outlook anticipates a general slowdown across the Central Asian region, with the exceptions of Uzbekistan, where the development bank ... more

Kazakhstan mulls ban on cryptocurrencies

Kazakhstan’s central bank is considering a ban on cryptocurrency use, exchanges, and mining, Daniyar Akishev, the chairman of Kazakhstan’s National Bank, told ... more