Kazakhstan’s 2012 GDP growth estimated at 5%: PM Serik Akhmetov

Kazakhstan’s GDP growth in 2012 is expected at 5%, a Tengrinews.kz journalist reports, citing the country’s PM Serik Akhmetov as saying at a government sitting December 25. “Today we are holding the final sitting this year. The estimated indicators are quite favorable. The GDP growth is estimated at 5%, with the inflation rate being within the range of 6-6.2%. In the recent decade it’s quite a good indicator. In January or early February we will be able to voice some forecasts for Q1 2013”, the PM said. November 12 Tengrinews.kz reported that the International Monetary Fund (IMF) had slashed the growth forecast for Kazakhstan’s gross domestic product (GDP) in 2012 from 5.5 to 5 percent, citing Juha Kahkonen, deputy director of the IMF's Middle East and Central Asia department. October 23 Kazakhstan’s Government cut down the 2012 GDP growth estimates from the earlier 6% to 5.4%, according to the country’s Minister of Economic Development and Trade Erbolat Dossayev. According to the International Monetary Fund, in 2011 Kazakhstan was ranked 53rd among 182 countries with its GDP of $214.84 billion.