Kazakh government forecasts 5% GDP growth in 2015
ALMATY. Aug 28 (Interfax) - Kazakhstan's government approved the economic forecast for 2015-2019 at a meeting on Wednesday, the Ministry of National Economy said.
According to the forecast, real GDP growth in 2015 is expected to reach 5%, followed by 5.6% in 2016, 6.8% in 2017, 5.8% in 2018 and 6.5% in 2019.
The government predicts that nominal GDP to grow from 45 trillion tenge (182 tenge/$1) in 2015 to 72.8 trillion tenge in 2019.
Exports will increase from $79.2 billion in 2015 to $93.5 billion in 2019, while imports will grow from $50.1 billion in 2015 to $57.8 billion in 2019.
The National Bank sets inflation at 6%-8%, slowing to 5%-7% in the medium term.
In the medium term, the economic and social targets are set to maintain macroeconomic and financial stability; provide a sustainable economic growth; introduce innovations in the economy; ensure social modernization and regional development; manage urbanization; develop public administration and promote international integration.
Macroeconomic forecasts and economic policy priorities formed budgeting program indicators for 2015-2017. Given the projected GDP growth and imports, public revenue (excluding transfers) is projected at 4.338 trillion tenge in 2015, 4.753 trillion tenge in 2016 and 5.148 trillion tenge in 2017.
GDP grew 6% in 2013 and the Kazakh government forecasts 6% growth in 2014.
