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PM meets Chief of IMF Mission in Kazakhstan Mark Horton

12 November 2019 19:40

NUR-SULTAN. KAZINFORM Prime Minister Askar Mamin has met today with a delegation of the International Monetary Fund headed by Chief of the IMF Mission for Kazakhstan Mark Horton, Kazinform reports citing the PM’s press service.

The Head of the Kazakh Government was presented expert evaluations and forecasts of the IMF on economic situation in Kazakhstan, which were included in the final statement of the mission based on the results of the visit of the IMF staff to the Republic of Kazakhstan in November 2019.

The IMF stated preservation of high paces of economic growth in Kazakhstan due to the non-oil sector, primarily due to construction and services sector.

«The preliminary evaluations point out acceleration in the third quarter. The key factors are rise in consumption and continuing investment activity, which is explained by the budgetary support, growth in retail lending as well as investment projects in oil and gas sector,» the final statement of the IMF Mission reads.

The PM noted that in 10 months of 2019, GDP in Kazakhstan increased by 4.4% against the same period in 2018.

The sides discussed the issues of monetary policy, exchange rate policy, tax and budget policy, the situation in banking sector, the economic reforms conducted in Kazakhstan as well as the oncoming opening of the IMF Regional Centre for Technical Support of Caucasus, Central Asia and Mongolia in Almaty in 2020.

The IMF Mission visits Kazakhstan twice a year to hold annual consultations in compliance with the IMF Agreement (Article IV)