EBRD says Kazakhstan will have 6% economic growth

The European Bank for Reconstruction and Development (EBRD) believes that Kazakhstan will show an economic growth of 6% in 2013. Its GDP grew by 5% in 2012 as a result of oil extraction from the Kashagan Field.

The EBRD quarter report notes successful restructuring of the BTA Bank, one of the largest financial institutions in Kazakhstan. The report calls the bank sector of Kazakhstan weak, with numerous inactive loans.

Experts of the European bank say that inflation in Kazakhstan may grow according to the rising foodprices. Inflation totaled 6% in Kazakhstan in 2012, coinciding with the average rate predicted by the National Bank (6-8%).