IMF expects Kazakhstan’s oil GDP to grow in 2017, 2018

BAKU. KAZINFORM Kazakhstan’s oil GDP will grow by 3.9 percent in 2017 and by 6.3 percent in 2018, according to the International Monetary Fund’s (IMF) updated Regional Economic Outlook for the Middle East and Central Asia, Trend reports.

In the previous three years (2016, 2015 and 2014), Kazakhstan’s oil GDP was declining, according to the IMF. In 2016, the decrease in Kazakhstan’s oil GDP amounted to 1.2 percent, the IMF said. 

Kazakhstan’s non-oil GDP will grow 2 percent in 2017 and 2.5 percent in 2018, according to the IMF’s outlook.

In 2016, the growth in Kazakhstan’s non-oil GDP amounted to 1.8 percent. In the previous years, Kazakhstan’s non-oil GDP was growing at a faster pace.

Real GDP growth in Kazakhstan is projected at 2.5 percent in 2017 and 3.4 percent in 2018.

Kazakhstan’s real GDP grew 1.1 percent in 2016.

Consumer price inflation in Kazakhstan is projected at 8 percent in 2017 and 7.2 percent in 2018.

In 2016, consumer price inflation in Kazakhstan was 14.6 percent.