By 2020 inflation in Kazakhstan will be 3-4% - Kelimbetov

ALMATY. KAZINFORM - By 2020 inflation in Kazakhstan will be at the level of 3-4%, said head of the National Bank of the Republic of Kazakhstan Kairat Kelimbetov.

He noted that the report of the IMF stated that Russia's economy will grow and will be negative at minus 3.8%. The economy of China is also expected to slow down and stop at the level of 6.8%. He stressed that compared to other players in the region, Kazakhstan's position in relation to many parameters such as the level of bad loans and deposit dollarization, looks decent. In general, the National Fund has reserves in the amount of about $68 billion, the National Bank - $29 billion. In addition, oil production in "Kashagan" and "Tengiz" in 2017-2020 is expected to increase by 500 thousand barrels per day.