Kazakhstan sees 4 pct GDP growth
GDP growth hit 4 percent in Kazakhstan in January - July 2014,
Chairman of Kazakh Statistics Committee Alikhan Smailov said at the
briefing in the Central Communication under Kazakh President.
The slowdown in the Kazakh economy resulted from slowdown in the
Russian economy, Kazakhstan Today reported on August 18.
"First of all, the reduction in the economy growth was provoked by
the slowdown in the economic growth of our main partner Russia. In
Russia GDP growth rate was 3.4 percent in 2013, but this year it is
expected at 0.5 -0.6 percent. Naturally, this fall affects
Kazakhstan, because we have very close economic ties," Smailov
said.
In particular, the decline in Russian GDP growth causes a decrease
in demand for Kazakh supplies.
In general, the situation in Kazakhstan's economy remains stable,
according to Smailov.
However some decrease is observed in non-ferrous metallurgy.
Oil production also decreased slightly, however it is expected to
reach last year's results in oil production until the end of 2014,
he said.
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