Kazakh government revises forecast of economic growth

Kazakh government revises forecast of economic growth

The Kazakh government has revised the economic growth forecast for 2016, reducing the expectation of GDP from 2.1 to 0.5%.

"If below 40 dollars [per barrel of oil]GDP growth was assumed at 2.1%, we believe that under the conservative scenario, GDP growth this year, with a price of 30 dollars per barrel, will amount to 0.5%," the Minister of Economy Erbolat Dosayev said.

As the Minister noted, Kazakhstan will be able to overcome the economic difficulties by implementing the adopted anti-crisis plan, as well as the infrastructure program 'Nurly Zhol' ('Shining Path'), TASS reports.

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