Kazakhstan projects economic growth at 2.8% pace in 2021
Addressing the Tuesday government session, the Kazakh Prime Minister, Askar Mamin, once again emphasized the difficult economic situation the world is facing now due to COVID-19, which also affects Kazakhstan’s economy. According to him, the country has retained Fitch’s BBB rating as of August, while 60% of countries saw their rating fall, which the PM attributes to the timely crisis response packages, the country’s stable economy, low national debt, efficient monetary policy, and considerable fiscal reserves.
He also added that Kazakhstan’s real GDP growth is projected at 2.8% in 2021 given the planned measures to bolster the economic sectors are in place.
The session also considered the country’s socioeconomic development prognosis for 2021-25, bills on republican budget for 2021-23 and guaranteed transfer from the National Fund of Kazakhstan for 2021-23 as well as the draft order of the President on allocation of targeted transfer from the National Fund of Kazakhstan for 2021.