Kazakhstan significantly raises GDP forecast for this year.

By bne IntelliNews May 12, 2010
Kazakhstan significantly raises GDP forecast for this year. Kazakh government has significantly raised GDP forecast for this year. PM Karim Masimov stated that it is important to secure sustainable growth that is 7% this year. Earlier, the government projected GDP to increase by 1.5-2% in 2009. However, it seemed to be too cautious as the economy grew by 6.6% in Q1 on the back of surging prices for oil and metals. To remind you, IMF expected Kazakh GDP to grow by 2% this year, while EBRD - at 3.5%. At the same time, the government is worried about inflation which sped up to 3.6% ytd in Q1, in comparison to 2.8% in the same period of previous year. If this trend continues, inflation may slip out of the projected corridor of 6-8% and reach 9-10% which is not acceptable. Meanwhile, economy minister Zhanar Aitzhanova informed that the government has drafted a law allowing to cap retail prices for certain ,,socially sensitive" consumer goods if needed.

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. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Russia’s war economy boosted by rising oil prices
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss