IMF keeps Kazakhstan’s growth forecast at 3.2%

NUR-SULTAN. KAZINFORM – The spread of COVID-19 and vaccination rates are the main factors in the recovery of global economy as well as Kazakh economy, Chairman of the National Bank of Kazakhstan Yerbolat Dossayev told a government session, Kazinform correspondent reports.

Dossayev noted that due to low vaccination rates and growing COVID-19 cases the International Monetary Fund (IMF) cut the GDP growth outlook for developing countries by 0.4% to 6.3%.

He went on to say that the IMF expects a 5.6% GDP growth in developed economies in 2021 due to high vaccination rates and stimulus. The IMF’s kept the global growth for 2021 at 6%.

The Chairman of the National Bank of Kazakhstan added that the IMF kept Kazakhstan’s growth forecast at 3.2%