The World Bank (WB) has increased its forecast for Kazakhstan’s GDP growth for 2017.
According to the WB January 2017 Global Economic Prospects report, real GDP growth in Kazakhstan will amount to 2.2% in 2017.
The WB also forecasts Kazakhstan’s GDP growth to recover to 3.7% in 2018 and to 4% in 2019.
The forecast for 2017 was increased by 0.3% as compared to the previous forecast of the WB published in June 2016, the forecast for 2018 remained unchanged, while forecast for 2019 is published for the first time.
In 2016 real GDP growth hit 0.9% in Kazakhstan compared to 1.2% in 2015.
The WB noted that for Kazakhstan as an energy exporter, energy price shocks could affect macroeconomic stability through spillovers to other sectors, such as construction and transportation, fiscal pressures, strains on the exchange rate, inflation or financial system instability. (Trend/Business World Magazine)