IMF upgrades Kazakhstan GDP forecast

IMF upgrades Kazakhstan GDP forecast

The International Monetary Fund (IMF) expects Kazakhstan’s economy to expand 3.7% in 2018 and 3.1% in 2019, the fund said in a press release.

"The growth rate of Kazakhstan's economy increased due to an increase in oil production and activity in trade and manufacturing industry," Interfax cited the IMF report. The growth is expected to remain stable, although risks exist, the IMF added.

In addition, inflation in Kazakhstan will be 6% in 2018 and 5.2% in 2019, according to the IMF. Earlier, it was predicted to be 6.4% in 2018 and 5.6% in 2019.