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Thursday, January 21st, 2021

Kazakhstan expects industrial growth at 3% in 2017

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The Minister presented the forecast of the social and economic development for 2017-2021.

According to him, the forecast is refined based on preliminary accounting data for GDP growth and the development of sectors of the economy for 2016, the estimated change in the US dollar exchange rate from 360 to 330 tenge, as well as current trends in the world commodity markets.

“The nominal GDP in 2017 is projected at 49 740.6 billion tenge, GDP per capita will increase to 8 391.5 thousand dollars”, T. Suleimenov told.

Thus, the industrial growth was revised upward to 3% due to the expected higher growth in manufacturing at the level of 2.6%.

The forecast of oil production increased to 81 million tons mainly due to increased production at the Kashagan field. The average annual increase in the volume of gross agricultural output will be 2.5%, inflation corridor is kept on the previously approved level of 6-8%.

Source: Kazakhstan 2050

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