IMF improves 2011 GDP forecast for Kazakhstan to 6.5%
ASTANA. Sept 21 (Interfax) - The International Monetary Fund (IMF) expects Kazakhstan's gross domestic product (GDP) to grow 6.5% in 2011, according to the Fund's latest World Economic Outlook.
In April this year, the Fund said it thought the Kazakh economy would expand 5.9% this year.
The IMF still thinks Kazakhstan's GDP will grow 5.6% in 2012.
According to IMF, inflation in Kazakhstan will be 8.9% in 2011 and slow to 7.9% in 2012 compared with the 9.1% and 6.4% forecast in April.
The IMF expects unemployment to decrease to 5.7% in 2011 and 5.6% in 2012. According to the Kazakh Statistics Agency unemployment in the republic was 5.5% in 2010.
The IMF says that in 2010 the Kazakh economy grew 7.3% and inflation was 7.4%.
According to Kazakh statistics, GDP rose 7% last year compared with 2009.
The Kazakh government expects GDP to expand 7% this year, while the inflation should be 8% or below, compared with 7.8% last year.