Kazakhstan economy growth to exceed Russia 2.5-fold in 2013

Kazakhstan’s economy growth will exceed that of Russian economy 2.5-fold in 2013, but will stay below Belarus, KazTAG reports citing official forecasts of the Customs Union (CU) member-countries. “Kazakhstan will achieve target values of the economy growth set at 6 percent by the end of the year,” Kazakhstan Prime-Minister's website cites Kazakhstan Vice-Minister of Economy and Budget Planning Madina Abylkassymova as saying. KazTAG analysts calculated that the growth of Kazakhstan economy will exceed Russia's growth 2.5-fold. “Such a difference in growth in two countries comes from the forecasts of Kazakhstan Economy Ministry and Russian Ministry of Economic Development. The growth is forecast at 2.4 percent in Russia and 6 percent in Kazakhstan. Thus, the growth of Kazakhstan’s economy in 2013 will exceed that of Russia 2.5-fold,” KazTAG analysts write. Meanwhile, in February Belta agency cited Deputy Economy Minister of Belarus Dmitriy Golukhov as making na fficial forecast of Belarus GDP growth at 8.5 percent, which is 2.5 percent over than the forecast growth of Kazakhstan. According to Vedomosti newspaper, Russian Ministry of Economic Development revised the forecast for 2013 2.4. The initial forecast stood at 3.6 percent.