GDP growth in Kazakhstan in 7 months made 4,0%

29 August, 2017, 10:56 208
GDP growth in Kazakhstan in 7 months made 4,0%

Since the beginning of this year improvement of economic activity is observed, GDP growth in 7 months has made 4,0%, the minister of national economy of Kazakhstan Timur Suleymenov said at the meeting of the Government during the report on the forecast and the main priorities of social and economic development for 2018-2022, BNews.kz correspondent reported.

"The document is developed in realization of the purposes and tasks defined in "Strategy Kazakhstan-2050, concepts of entry into 30 developed countries, five institutional reforms and also the Third modernization of Kazakhstan. The forecast is created on the basis of reporting data on GDP for 2016 and the specified assessment of growth of economy for 2017," the minister told.

According to him, in 2016 nominal GDP has developed of 46 971,2 billion tenges, with increase by 1 497,4 billion tenges, real GDP growth has made 1,1%.

"Since the beginning of the current year improvement of economic activity is observed, GDP growth in 7 months has made 4,0%. Following the results of 2017 we expect growth of economy at the level of 3,4%," T. Suleymenov reported.

Secondly, as the head of department has noted, the updated forecasts for growth of world economy, so, according to forecasts of the IMF in 2017-2018 forward world economic growth at the level of 3,5-3,6% against the background of acceleration of activity in the countries with developed economy is expected.

"Thirdly, stabilization of a situation in the world commodity markets: in 7 months of this year price of oil was 51,7 US dollars for barrel, in 2016 – 44,0 US dollars. According to the consensus forecast for 2017 price of oil is predicted at the level of 53,5 US dollars, in 2018 – 55,3 US dollars with the subsequent moderate growth in the medium term," the minister added.

#Kazakhstan #GDP

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