Steady economic growth is expected in Kazakhstan in 2019

Steady economic growth is expected in Kazakhstan in 2019

Experts of the European Bank for Reconstruction and Development predict that a steady economic growth is expected in Kazakhstan in 2019. Analysts point out that in the next 12 months, a favourable financial climate will develop in the entire Central Asian region.

ARTUR RADZIWILL, EBRD DIRECTOR FOR COUNTRY ECONOMICS AND POLICY:

 - In Kazakhstan, due to the increase in oil prices, growth in production, as well as investments in this sector, we predicted growth of more than 4%, and this will continue to rise in 2019.

Experts say that one of the main goals set by Kazakhstan is the diversification of the economy. In addition, the country also plans to increase the share of its private sector.

SERGEY GURIYEV, CHIEF ECONOMIST, EBRD:

 - The main challenges are the development of a market economy and privatization in Kazakhstan. This is about the development of the International Financial Center and floating the shares of the state-owned company on the stock exchange. When Kazakhstan’s largest companies become competitive, it increases both incentives for other companies and labour productivity.

Generally, in Central Asia, economists see the most dynamic progress in Uzbekistan’s economy where reforms have been actively implemented in recent years. They said it will have an impact on the entire region.