Experts expect growth of Kazakhstan’s economy

Experts expect growth in business activities in Kazakhstan. According to them, exports will increase by at least 20 percent this year, the volumes will exceed US$56 billion. The rise in prices on the world markets of the main export goods of Kazakhstan, including metal, gas, uranium, grain and oil will play its role. The Brent crude has been trading above US$70 per barrel all these weeks. According to the country’s National Bank, as the rate of production increases, quotations will decline. In the new baseline scenario of the financial regulator, the cost of the Brent barrel is set at US$60. If this price persists, experts expect the economy to grow to almost 4 percent this year, with a further acceleration in 2022. The balance of payments deficit, which is typical for Kazakhstan, will be reduced by almost half.