ADB expects growth of Kazakhstan's economy in 2018
By Trend
The Asian Development Bank (ADB) expects a 3.2 percent growth of Kazakhstan’s economy in 2018 and a 3.5 percent growth in 2019, Kazakh media reported citing the ADB press service.
Higher commodity prices and investment inflow will enable revival of business activity in Kazakhstan, according to ADB.
ADB said the average economy growth in Central Asia increased to 4.3 percent in 2017 from 2.7 percent a year earlier, as the recession in Azerbaijan ended and growth accelerated in six other economies, in particular in Kazakhstan. (ADB includes Azerbaijan in its Central Asia reports).
Economy growth slowed down only in Uzbekistan, where sharp devaluation of the currency and other economic reforms affected future development.
It is expected that growth in Central Asia will reach 4 percent in 2018 and 4.2 percent in 2019 amid rising commodity prices.
A more stable exchange rate reduced inflation almost twice in Kazakhstan, having decreased its average rate in the region to 9.2 percent in 2017 from 10.6 percent in 2016.
This is while the growth of inflation accelerated in other countries, in particular in Uzbekistan. Inflation in Central Asia is forecast at 8.5 percent in 2018 and 7.9 percent in 2019. It is expected that in Kazakhstan, inflation will slow down to 6.8 percent in 2018 and 6.2 percent in 2019 in case if the exchange rate stability remains.
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