22 января 2013 12:30

2013 GDP growth in Kazakhstan expected at 6%: EBRD

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By Yaroslav Radlovsky © By Yaroslav Radlovsky ©

European Bank for Reconstruction and Development (EBRD) has kept its 2013 economic growth forecast for Kazakhstan at 6%. According to the report titled Regional Economic Prospects in EBRD Countries of Operations: January 2013, in Kazakhstan, GDP growth slowed from 7.5 per cent in 2011 to around 5 per cent in 2012 owing to more difficult external environment. It is expected to pick up again in 2013 as a new phase of Kashagan field comes on stream. BTA, the third largest bank, successfully completed its second debt restructuring in two years, but overall the banking sector remains weak suffering from overhang of non-performing loans. Inflation has remained moderate, at 6 per cent in December 2012, but may accelerate further somewhat due to higher food prices. The European Bank for Reconstruction and Development (EBRD) was established to help build a new, post-Cold War era in Central and Eastern Europe. The EBRD serves the interests of all its shareholders - 64 countries plus the European Union and the European Investment Bank -, not just those countries which receive its investments (€9.1 billion in 2011).


European Bank for Reconstruction and Development (EBRD) has kept its 2013 economic growth forecast for Kazakhstan at 6%. According to the report titled Regional Economic Prospects in EBRD Countries of Operations: January 2013, in Kazakhstan, GDP growth slowed from 7.5 per cent in 2011 to around 5 per cent in 2012 owing to more difficult external environment. It is expected to pick up again in 2013 as a new phase of Kashagan field comes on stream. BTA, the third largest bank, successfully completed its second debt restructuring in two years, but overall the banking sector remains weak suffering from overhang of non-performing loans. Inflation has remained moderate, at 6 per cent in December 2012, but may accelerate further somewhat due to higher food prices. The European Bank for Reconstruction and Development (EBRD) was established to help build a new, post-Cold War era in Central and Eastern Europe. The EBRD serves the interests of all its shareholders - 64 countries plus the European Union and the European Investment Bank -, not just those countries which receive its investments (€9.1 billion in 2011).
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