Kazakhstan revises upward industrial production projection.

By bne IntelliNews February 17, 2011
Kazakhstan expects industrial production to increase by 4.8% y/y this year, up from initially projected 3.6% y/y, Zhanar Aitzhanova minister of economic development and trade has informed. She explained that industrial production will be driven by a growth in the mining industry by 3.5% and in the processing industry by 7.3% y/y. The minister also said that GDP will increase by 5%, earlier the government expects GDP to grow in the range of 4-5% y/y. Aitzhanova also confirmed that oil production is expected at 81mn tones and the average price on the world market is estimated at USD65 per 1 barrel. To remind you, last year industrial production increased by 10% y/y.

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