Kazakhstan: Imf predict slower growth, push on foreign investments
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Kazakhstan: Imf predict slower growth, push on foreign investments
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Kazakhstan: Imf predict slower growth, push on foreign investments

(AGI) - Astana, 26 nov. - According to the recent InternationalMonetary Fund report, against the backdrop of large externalshocks?lower oil prices, Russia and China slowdown?economicgrowth in Kazakhstan has decelerated sharply relative to 2014.Financial conditions have also worsened in Kazakhstan. Theroughly 40 percent depreciation of the national currency(tenge) against the dollar since the august 20 move to afloating exchange rate is pushing up inflation above the 6-8percent. The Imf expects real gdp growth of 1.2 percent thisyear and 2.2 percent in 2016, well below the economy'spotential, with external risks remaining. Besides
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(AGI) - Astana, 26 nov. - According to the recent InternationalMonetary Fund report, against the backdrop of large externalshocks?lower oil prices, Russia and China slowdown?economicgrowth in Kazakhstan has decelerated sharply relative to 2014.Financial conditions have also worsened in Kazakhstan. Theroughly 40 percent depreciation of the national currency(tenge) against the dollar since the august 20 move to afloating exchange rate is pushing up inflation above the 6-8percent. The Imf expects real gdp growth of 1.2 percent thisyear and 2.2 percent in 2016, well below the economy'spotential, with external risks remaining. Besides the kazakh government actively discussed today inthe parliament the measures aimed at the increased attractionof foreign investments. There are plans in motion to improvecoordination between the kazakh embassies and the investmentagencies. Furthermore, Bakytzhan Sagintayev, the first deputyprime minister of Kazakhstan, suggested to create a separatequasi-government agency that will be called the Investment HeadOffice. This agency that will consist of internationalinvestment banks and consulting agencies will specificallycoordinate and provide one-stop-shop for all investors. The Imfmission that recently visited Kazakhstan has endorsed thecreation of such investment body. The Imf noted in theconcluding statement, "we support the efforts underway toconsult closely with international experts on privatizationmodalities". (AGI).
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