Average growth in Kazakhstan projected at 4.4% within 5 years — Minister of National Economy

AKIPRESS.COM - Minister of National Economy of Kazakhstan Ruslan Dalenov at the meeting on budget planning today provided a social-economic development forecast for 2020-2024, Informbureau reported. The forecast was formed taking accopunt the following factors:
- reporting statistics on GDP for 2018;
- the results of the economic development for the seven months of 2019: GDP growth - 4.2%, inflation -5.4%, investments are growing at 11%;
-updated forecasts for global economic growth;
-trends in global commodity markets. According to world financial organizations, in 2019, the consensus forecast for oil prices will be $65 per barrel. In 2020, it will drop to $63 per barrel.
The figure was based on basic factors of development of economy of Kazakhstan, which implies price for oil in $55 per barrel.
The real GDP growth is expected at 4.1% in 2020. In 2024, it is projected at 4.7%. The average growth will be 4.4% within 5 years, the Minister said.