GDP growth forecast at 6-7 percent in Kazakhstan in 2013-2017

GDP growth in Kazakhstan in 2013-2017 is forecast at 6-7 percent, Tengrinews.kz reports citing Kazakhstan Minister of Economy and Budget Planning Yerbolat Dossayev. “According to our estimates, the economy growth has to be more stable in 2013. Considering the low base in some of the industries and the expected growth of oil production, we are expecting this year’s GDP growth to be at the planned level of 6 percent. "What concerns the medium-term forecast, the real growth of the economy is expected at 6-7 percent per year in 2013-2017. This will ensure GDP per capita of over $20 thousand by 2018. A major source for the GDP growth will lay in expansion of the domestic demand that will have an average growth of 6.5-6.8 percent per year,” Dossayev said at the government meeting in the Majilis. Earlier Kazakhstan National Bank made a forecast for the GDP growth in 2013. According to the Bank’s chairman Gregory Marchenko, this year’s GDP growth may reach 6 percent. By Gulnara Zhandagulova