IMF lowered its forecast for Kazakhstan’s GDP growth to 0.1% in 2016

Almaty. May 19. Silkroadnews – The International Monetary Fund (IMF) has lowered Kazakhstan’s GDP growth forecast for 2016 from 2.2% to 0.1%, KazTAG reports with reference to the National Bank of Kazakhstan.

“The forecasts by the IMF and the government of Kazakhstan for 2016 are quite comparable. When developed the monetary policy for 2016 the National Bank of Kazakhstan took into account these projections,” the press service quoted the deputy chairman of the National Bank of Kazakhstan Galymzhan Pirmatov on Thursday.

He recalled that in its World Economic Outlook the IMF lowered forecast of growth of Kazakhstan's economy in 2016 from 2.2% to 0.1%.

“According to the forecast of socio-economic development of Kazakhstan for 2017-2021, GDP growth for 2016 was revised from 1.7% to 0.5%,” is noted in the text.