Kazakh Government sets oil average annual price

ASTANA. KAZINFORM - The Government of the Republic of Kazakhstan in the refinement of projections for 2014 has determined the average annual price of oil at the level of USD 95 per barrel, this has been reported today by the Minister of Economy and Budget Planning Yerbolat Dossayev.

"Given the strengthening of the U.S. dollar, the average annual oil price is set at the level of 95 dollars. Earlier, the oil price was set at the level of 90 dollars per barrel", said Dossayev. He also noted that the country's real GDP growth in 2014 is estimated at the previous level of 6.0%. Nominal GDP in 2014 will be 39 623.7 billion, which is higher relative measure approved in August to KZT 999.3 billion. According to the forecasts made by international organizations, the average oil price in 2014 will be at the level of USD 105.1 per barrel.