IMF forecasts real GDP growth in Kazakhstan of 3.25% in 2016

"Next year, growth is projected to pick up to 3.25%, driven by gradual recovery in oil prices and external demand. Still, the medium-term growth outlook is less favorable than projected last year, given the impact of lower oil prices and continued slow growth in Russia on non-oil potential growth in Kazakhstan," the International Monetary Fund said.

Earlier, the IMF said that real GDP growth will decelerate to 2% in 2015 because of weaker demand from Russia and China and lower oil prices.