IMF increased its expectations of economic growth in Kazakhstan

The International Monetary Fund (IMF) said that Kazakhstan's economic growth in 2011 will make 5.9 percent. As per Vesti.ru, the earlier forecasted level was 4.5 percent. This estimate was given in the IMF's report on economic development forecasts for Caucasus and Central Asia. In December 2010 the IMF suggested that Kazakhstan economic growth in 2011 will make 4.5-5 percent and 6 percent in 2012. Kazakhstan's economic growth made 7 percent in 2010 and 1.2 percent in 2009. Kazakhstan experts are forecasting that Kazakhstan GDP growth might reach up to 7 percent. This forecast was made by the Ministry of Economic Growth. The National Bank of Kazakhstan is also expecting a 5-6 percent economic growth this year.