Kazakhstan’s GDP growth forecast was reduced from 2.1% in 2016 to 0.5% – RIA Novosti

ASTANA, February 23 – RIA Novosti The Government of Kazakhstan has approved a new forecast of socio-economic development for 2016, according to which the country’s economic growth will be 0.5% in 2016, instead of 2. 1% as previously planned, the Minister of the national economy Erbolat Dosayev at a briefing on Tuesday

“at a government meeting, we approved a new forecast of socio-economic development for 2016 imply a change of the following parameters:.. settlement rate (tenge to the dollar – Ed.) is changed from previously approved in November-month 300 tenge to 360 tenge, change the average annual price of oil – we reduce it in accordance with the forecasts of international financial institutions, investment banks from 40 to 30 dollars per barrel, ” – Dosayev said

According to him, the government

has also adjusted its forecast for economic growth in Kazakhstan in 2016.. “In line with this we are changing the forecasts related to economic growth, if the $ 40 assumed GDP growth of 2.1%, we assume for the conservative scenario this year at a price of $ 30 per barrel (growth) of 0.5%. However, we are still in positive territory, “- concluded the head of Minnatsekonomiki

in 2015 the growth of Kazakhstan’s economy amounted to 1,2%

..