26 Jan 2010 13:05

GDP in Kazakhstan to increase by 1.5-2% with 6-8% inflation in 2010

ASTANA. Jan 26 (Interfax) _ - The Kazakh economy will grow by 1.5-2% in 2010.

"GDP growth is estimated at 1.5-2%," said Kazakh Minister of Economics and Budget Planning, Bakhyt Sultanov, while announcing a joint statement by the Ministry of Economy, State Agency for Financial Supervision (AFS) and the National Bank on the main areas of macroeconomic policy in 2010 at a government meeting held in Astana on Tuesday.

Meanwhile, the level of inflation for 2010 is forecast at 6-8%.

"There will be a number of directions in 2010 economic policy: firstly, maintaining macroeconomic stability and consolidating the positive trends in the economy; secondly, creating a favorable environment for post-crisis development in the country and ensuring further sustainable economic growth," said the Minister.

"To ensure the sustainability of the economy in the long run we will strive to promote the development of export-competitive sectors, continue building an encouraging environment for attracting investments in the economy. We will pay special attention to mechanisms of public-private partnerships," said Sultanov.

Last year the gross domestic product (GDP) of Kazakhstan rose 1.1% year-on-year while inflation hit 6.2%.