IMF calls on Kazakhstan to continue economic reforms to achieve 6% GDP growth

ALMATY. Oct 1 (Interfax) - Kazakhstan should continue structural reforms to achieve steady 6% GDP growth, the Kazakh government press service quoted the head of the International Monetary Fund's Mission for Kazakhstan, Nicolas Blancher, as saying during a meeting with Kazakh Deputy Prime Minister and National Economy Minister of Nurlan Baibazarov.

Blancher said that the IMF would continue to provide Kazakhstan with the necessary support, according to the press release.

Baibazarov said Kazakhstan attached great importance to the partnership with the IMF.

In the eight months of this year the economy of Kazakhstan continued growing and increased by 3.7%, Baibazarov said. Also, the government is working towards improvement of the budget policy, tax legislation, investment climate and development of entrepreneurship.

During its scheduled visit to Kazakhstan, the IMF mission held a number of meetings with key government agencies, including the parliament, National Bank, National Economy Ministry, Finance Ministry and others.

Kazakhstan joined the IMF in 1992.

In 2023, the republic's GDP expanded by 5.1%. The Eurasian Development Bank expects the economy to grow by 5% in 2024; according to the World Bank's projections the economy will increase by 3.4%, and according to the International Monetary Fund it will expand by 3.5%.