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Analysts forecast economic growth in Kazakhstan in 2008 by no more than 5 %

Almaty. May 21. Kazakhstan Today - The analysts forecast in Kazakhstan rates of economic growth in 2008 by no more than 5 %. The chairman of the board of ABN AMRO Bank Kazakhstan Yurgen Rigterink stated yesterday during the international conference - Corporate Finance 2008, the agency transfers. In spite of the fact that the prices for food stuffs grow, the rate of inflation (in annual expression in April - 19 %) is high. The National Bank will manage to reach rate of inflation of 10 - 15 %. "It means that economic growth of Kazakhstan will make about 5 %, the government has officially formulated the aim - from 5 up to 7 %, but we, analysts, bankers, consider that economic growth will be closer to 5 %. This is a very healthy development," Y. Rigterink emphasized. Complicated conditions in the capital market will lead to what both the National Bank and analysts have always endeavored - decrease of interest rates and the end of market overheating. Investment climate remains very healthy due to high prices for raw goods. "The country has very good fundamental bases. The currency is very stable and the National Bank will continue to support it, at least, up to the end of this year. Deficit of the current account is growing, but parameter of direct foreign investments is healthy enough. In 2007 it made $7 billion. Parameters of industrial sector have been rising. As a whole, the base is very good," the chairman of ABN AMRO Bank Kazakhstan concluded.

Resourse: Kazakhstan Today

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