IMF praises economic growth of Kazakhstan

AKIPRESS.COM - Prime Minister of Kazakhstan Askar Mamin held a meeting with experts of the International Monetary Fund led by the Head of the mission for Kazakhstan Mark Horton, his press service reported.
Mamin was presented the IMF's expert assessments and forecasts on the economic situation in Kazakhstan, which were included in the final statement of the mission based on the results of the visit of the Foundation staff to the Republic of Kazakhstan in November 2019.
The mission noted the continued high economic growth rates in Kazakhstan, mainly in the non-oil sector, primarily in construction and service.
"Preliminary estimates indicate acceleration in the third quarter. Key factors are increased consumption and ongoing investment. This is due to budget support, high growth in retail lending, as well as investment projects in the oil and gas sector," the IMF mission statement said.
The head of government noted that the economy of Kazakhstan shows a stable growth trend - according to the results of 10 months in 2019, Kazakhstan's GDP increased by 4.4% compared to the corresponding period last year.
The sides discussed issues of monetary, exchange rate, fiscal policy, the situation in the banking sector, Kazakhstan's structural reforms of the economy, as well as the upcoming opening in 2020 in Almaty of the IMF Regional Technical Assistance Center for the Caucasus, Central Asia and Mongolia.
The meeting was attended by First Deputy Prime Minister - Minister of Finance Alikhan Smailov, Minister of National Economy Ruslan Dalenov, Minister of Trade and Integration Bakhyt Sultanov, Minister of Industry and Infrastructure Development Beibut Atamkulov, Vice Minister of Foreign Affairs Yermek Kosherbayev and representatives of others departments.
The IMF mission visits Kazakhstan twice a year for annual consultations in accordance with Article IV of the Articles of the IMF Agreement.