Kazakhstan's crude output is expected to reach 79.5 million tonnes in 2017

Almaty. September 15. Silkroadnews – Kazakhstan's crude output is expected to reach 79.5 million tonnes in 2017, Minister of National Economy Kuandyk Bishimbayev stated, KazTAG writes.

«2017 crude output is projected to reach 79.5 million tonnes with further growth up to 86.5 million tonnes in 2021», K. Bishimbayev said.

Giving his speech K. Bishimbayev noted that the forecast of Kazakhstan's social and economic development for 2017-2021 has been based on GDP estimates adjustment for 2016, estimated rate of $1=KZT360 for 2017-2019 followed by strengthening of KZT340 per $1 by 2021.

«Under the baseline scenario the crude price is forecasted at the conservative level of $35 a barrel in 2017-2019, followed by slight increase to $45 a barrel by 2021. The metals prices in 2021 are forecasted with 11% growth compared to 2016», minister added.

According to him, the export forecast stands at $40.2 billion in 2017, followed by increase up to $53.3 billion in 2021; imports is projected to raise from $29.1 billion in 2017 up to $38.2 billion in 2021.