Kazakhstan to see 7% GDP growth in 2014 – National Bank

February 19, 2014

Kazakhstan’s GDP will grow 7% in 2014 given the tenge devaluation, Head of the Kazakh National Bank Kairat Kelimbetov has said.

Following the tenge devaluation last week the National Bank expects the economic growth to be around 7%, the government and the National Bank will keep the inflation rate within a range of 6-8%, Kelimbetov told a Wednesday press conference in Almaty.

Earlier Kazakh President Nursultan Nazarbayev said that this year Kazakhstan’s economic growth would be no less than 6% due to the tenge devaluation.

Kazakhstan’s GDP grew 6% in 2013 as compared to 5% in 2012.

Source: Interfax-Kazakhstan