IMF upbeat about Kazakhstan’s economy

International Monetary Fund (IMF) in its World Economic Outlook report forecasts that the 2012 Kazakhstan’s real GDP growth will make up 5.9%, reaching 6% in 2013, Newskaz.ru reports. In October 2011 IMF had forecasted that the Kazakh economy would grow by 5.6% in 2012. In a joint statement of the Government and the Central Bank, the real GDP growth in 2012 was expected at 6-7%. According to the IMF’s report, inflation rate at the year-end is expected at 5.5%, hitting 7% in 2013. In its earlier report, IMF forecasted that the 2012 inflation would reach 7.9%. According to the country’s Government, inflation rate is to be held within 6-8%. As of April 1, 2012, the annual inflation stood at 4.6%. IMF experts expect the unemployment rate to stand at 5.4% in 2012, reducing to 5.3% in 2013. World Economic Outlook is a report by the International Monetary Fund (IMF) that contains analysis and projections of the integral elements of the IMF's surveillance of economic developments and policies in its member countries, and of the developments in the global financial markets and economic system. The World Economic Outlook (WEO) is usually prepared twice a year and is used in meetings of the International Monetary and Financial Committee. The International Monetary Fund (IMF) is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.