Kazakhstan's GDP forecast for 2015-2019 lowered
Kazakhstan government lowered the forecast of the country's GDP
growth for 2015-2019, Novosti-Kazakhstan reported with the
reference to Kazakh minister Erbolat Dossaev.
"Real GDP growth is forecasted at the level of 4.8 percent in 2015
or 0.2 percent below the earlier approved forecast. In 2016-2019
real GDP growth is expected to be 5.3-6.7 percent," Kazakh National
Economy Minister Erbolat Dossaev said presenting the draft
amendments to the republican budget for 2014-2016 in the
parliament.
Dossaev noted that the situation in the global economy deteriorated
in September-October.
"The initial parameters of the baseline scenario of the
socio-economic development in 2015-2019 have been revised due to
internal and external factors," the minister said.
For example the level of oil prices forecast for 2015 reduced from
$90 to $80 per barrel, according to the minister. For 2016-2019 the
forecast level stands at $90 per barrel.
"The nominal GDP is expected to reach 43,721,300,000,000 tenge
(180.99 tenge = $1) in 2015, which is lower than 1,310,900,000,000
tenge approved in August," Dossaev said.
In 2019 nominal GDP is forecast to increase to 70,753,600,000,000
tenge. GDP per capita increased from $13,500 in 2015 to $20,800 in
2019, he added.
The minister also said that Kazakh Government plans to reduce the
expenses of state budget in 2015-2017.
The proposals on this issue will be introduced to Parliament in the
near future.
"The government's proposals on the reduction of specific costs of
budget in 2015-2017 will be presented for your consideration in the
near future," Dossaev said to parliamentarians.
Earlier, Kazakh government forecast real GDP growth to reach 5
percent in 2015, 5.6 percent in 2016, 6.8 percent in 2017, 5.8
percent in 2018, 6.5 percent - in 2019. GDP per capita was earlier
forecast $13,900 in 2015 and to grow up to 21,400 in 2019.