WB changes forecast on Kazakhstan's GDP growth for 2017

According to the WB January 2017 Global Economic Prospects report, real GDP growth in Kazakhstan will amount to 2.2 percent in 2017.

The WB also forecasts Kazakhstan's GDP growth to recover to 3.7 percent in 2018 and to 4 percent in 2019.

The forecast for 2017 was increased by 0.3 percent as compared to the previous forecast of the WB published in June 2016, the forecast for 2018 remained unchanged, while forecast for 2019 is published for the first time.

In 2016 real GDP growth hit 0.9 percent in Kazakhstan compared to 1.2 percent in 2015.

The WB noted that for Kazakhstan as an energy exporter, energy price shocks could affect macroeconomic stability through spillovers to other sectors, such as construction and transportation, fiscal pressures, strains on the exchange rate, inflation or financial system instability.