The International Monetary Fund (IMF) increased its forecast for Kazakhstan’s GDP growth in 2017.
The IMF "World Economic Outlook" report released on April 18 reads that Kazakhstan’s economy is projected to rise by 2.5 percent in 2017, as a result of higher oil production and stronger external demand.
It is 1.9 percentage points higher than forecast in IMF previous "World Economic Outlook" report published in October.
In 2018 Kazakhstan’s real GDP growth is expected to reach 3.4 percent. IMF did not give forecast for 2018 in its previous "World Economic Outlook" report.
In 2016 GDP growth hit 1.1 percent, according to IMF.
Inflation in Kazakhstan is projected to reach 8 percent in 2017 and 7.2 percent in 2018 compared to 14.6 percent in 2016. Unemployment rate in Kazakhstan will remain at 5 percent level in 2017 and 2018 as it was in 2016.
In October 2016 “World Economic Outlook” IMF forecasted Kazakhstan's inflation at the level of 9.3 percent. The forecast for the unemployment rate remained unchanged.
According to the new report, in 2022 GDP growth in Kazakhstan will hit 4.6 percent, inflation decrease to 4.4 percent.
Follow us on Twitter @AzerNewsAz