Kazakhstan’s GDP real growth expected at 4.8%: IMF

Kazakhstan’s GDP real growth is expected at 4.8%, Newskaz.ru reports, citing a press-release issued by the IMF following the Fund’s consultations with the country’s authorities.

According to the Fund’s estimates, the inflation ratio is expected to reach 9%, “although the Government has been trying to keep the inflation ratio within the range of 6-8%”.

The Fund’s experts believe in the mid run the prospects of the country’s economy will depend on the crude production estimates. Besides, the developments in the neighboring Russia and Ukraine as well as slowdown at emerging markets will also have a certain effect on the country’s economy.

Kazakhstan’s economy growth slowed down to 3.8% in the Q1 2014 against 6% as of the end of 2013. 

The IMF works to foster global growth and economic stability. It provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty. The IMF has 188 member countries. It is a specialized agency of the United Nations but has its own charter, governing structure, and finances.