Kazakh government revises forecast of economic growth

The Kazakh government has revised the economic growth forecast for 2016, reducing the expectation of GDP from 2.1 to 0.5%.

"If below 40 dollars [per barrel of oil]GDP growth was assumed at 2.1%, we believe that under the conservative scenario, GDP growth this year, with a price of 30 dollars per barrel, will amount to 0.5%," the Minister of Economy Erbolat Dosayev said.

As the Minister noted, Kazakhstan will be able to overcome the economic difficulties by implementing the adopted anti-crisis plan, as well as the infrastructure program 'Nurly Zhol' ('Shining Path'), TASS reports.