Interfax cited Mr Bakhyt Sultanov Economy and Budget Planning Minister of Kazakhstan as saying that Kazakhstan's GDP grew 1.5%YoY in the Q3 compared to the Q2.

He said that "We estimate that GDP rose 1.5% in the Q3 compared with the second."

Mr Sultanov said earlier this month that the government forecasts GDP to grow 1.1% in the Q3 and 3% in the Q4. The government targets real GDP growth of 0.1% for the full year.

The National Bank of Kazakhstan forecasts GDP to rise 0.1% to 0.3% this year, while the IMF believes GDP will decline 2%. The European Bank for Reconstruction and Development forecasts GDP to decline 1.3%.

The State Statistics Agency reported that Kazakhstan GDP shrank 2.3% in the Q1. Kazakh GDP rose 3.2% in 2008.

(Sourced from Interfax)