Economic growth

Kazakhstan’s GDP will exceed IMF’s 3.3% forecast in 2017, domestic analysts believe. According to senior researcher at Kazakhstan Institute for Strategic Studies, Vyacheslav Dodonov, one of the key factors has become growth of oil prices in the world market and increase of oil production at the Kashagan oil reserve in Kazakhstan. Therefore, according to this year’s results experts predict that the country’s economic growth will reach 3.7%. Financiers highlight the positive effect from Kazakhstan’s performance in the World Bank’s Doing Business ranking. Kazakhstan is ranked the 36th place out of 190 countries in the quality of favorable conditions for entrepreneurship and functioning business.  VYACHESLAV DODONOV, SENIOR RESEARCHER, KAZAKHSTAN INSTITUTE FOR STRATEGIC STUDIES:

- This year Kazakhstan took the 36th place. This is a high position. Kazakhstan is ahead of some of the developed countries like Italy, Cyprus and Israel. Among the CIS countries Kazakhstan concedes only for Russia. The 36th place is a very high figure and we are on the right course to improve our conditions to do business.