Kazakhstan Today cited Mr K Massimov Kazakh Prime Minister as saying that the GDP growth made 7.5% over 11 months of the year.

As was earlier reported, Mr Nursultan Nazarbayev President of Kazakhstan set the task on ensuring a 7% increase of the economy on April 17 of this year. Thus, Kazakhstan is to join a group of countries with high income in the nearest five years. The per capita GDP level is expected to be at the level not less than USD 15 thousand by 2016. In order to achieve this goal the economy has to grow in the pace of not less than 7% every year.

As a result of the first quarter of this year the GDP growth reached 6.5% then in the first half of this year it made 7.1%, as a result of 9 months span of time it was at the level of 7% and 7.2% after 10 months. In accordance with the forecast of the Ministry of Economic Development and Trade of Kazakhstan, the real GDP growth is predicted at the 7% level in 2011.

It is expected to be 6.9% in 2012, 6.5% in 2013 and 7.1% in 2014, 7.4% in 2015 which will total in 7% increase a year in 2011-2015.

Source - Kazakhstan Today

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