EBRD expects Kazakhstan's GDP growth pace in 2016 at the level of last year
ASTANA. April 20 (Interfax) - The European Bank for Reconstruction and Development (EBRD) forecasts Kazakhstan's GDP growth pace in 2016 at the level of last year, Associate Director, Regional Lead Economist Agris Preimanis said.
"Tenge liquidity is increasing. Kazakhstan's economy has hit rock bottom, rebounded and started to grow. I believe that economic growth this year will be at the same level as last year," he said at the 7th mining forum 'Minex Central Asia 2016' in Astana on Wednesday.
Kazakhstan's GDP grew by 1.2% in 2015. In January, the EBRD predicted the growth of Kazakhstan's economy at 1.5% in 2016.
In 2017, Preimanis expects growth to accelerate and to return to the pace required for stability.
He said that Kazakhstan had a rather difficult time during the last quarter of 2015 and saw a slowdown in the first quarter of this year as well. There is a shortage of short-term liquidity, a very high base rate and low oil prices, he said.
However, over the past few months, Kazakhstan has shown an upward dynamic, Preimanis said.
