EBRD forecasts 2.4% GDP growth in Kazakhstan

ASTANA. KAZINFORM The European Bank for Reconstruction and Development says it has an optimistic forecast on Kazakhstan, Kazinform correspondent reports.

According to Janet Heckman, the EBRD works in all the sectors of economy and regions of Kazakhstan. “We know the country better than other international organizations or donor companies working here,” said she.

“Our economists are more optimistic than we often read in mass media. We think that Kazakhstan has already overcome economic decline in oil and gas sector. This year, we predict positive GDP growth by approximately 0.7% with a significant increase in 2017 to 2.4%. We believe that inflation has reached its peak and by the end of the year we expect that liquidity will return to a normal level,” added Heckman while taking the floor at the conference on “Kazakhstan: New Investment Opportunities.”

In her opinion, improvement of external environment, anti-crisis measures and reforms launched by the country became the main driving forces of growth.