GDP growth expected to be higher than 3.5% by yearend in Kazakhstani

ASTANA. KAZINFORM - The GDP is expected to demonstrate over 3.5% growth by the end of the year in Kazakhstan, Minister of National Economy of Kazakhstan Yerbolat Dossayev told at the session "Ensuring growth and stability of the global economy" held within the 8th Astana Economic Forum.

"We have a lot of natural resources and we also have two big neighboring countries, which are potentially the richest world countries. Under the current economic situation Kazakhstan sees many challenges and opportunities. We know about the Silk Road initiative, Kazakhstan welcomes this initiative and plans to bridge Europe and the rest of the continent," Y. Dossayev said.

He also noted that Kazakhstan and China signed a memorandum on mutual understanding in April that totaled USD 24 billion and was focused on the sphere of construction of new plants and other projects.

"Starting with January 1, we have a new form of cooperation - the EEU. The economy of Kazakhstan has great opportunities for growth now. Despite all the difficulties this year the GDP growth of Kazakhstan made 1.8%. Thus we expect it to be at the level of 3.5% by the yearend," he emphasized.