National Economy Minister comments on possible GDP growth this year

ASTANA. KAZINFORM Kazakh Minister of National Economy Timur Suleimenov replied to the question on possible overachievement of the GDP growth target for the year of 2017 at the level of 2.5 per cent, Kazinform correspondent reports.

According to him, despite of the fact that the country's GDP in the first quarter of 2017 has increased by 3 per cent at the moment there are no objective preconditions to revise the overall macroeconomic forecast and the industry-based forecast.

"The positive figures of the first quarter can make us think that the growth will be exceeded. However, I want to draw your attention to the last-year dynamics of GDP growth. That year we saw fall in the same period, so it is the low base effect to play its role. Therefore, it is very hard to say that we will for certain exceed the yearly target of 2.5 per cent (...) Having the six-month figures, statistics, internal and external trends at that moment we will come back to that question. For now, it is necessary to orient to 2.5pct and work to achieve it", Minister of National Economy replied to the question of the journalists in a briefing for the results of the Government session.