Kazakhstan's GDP grows 0.3% in 2016 - National Economy Minister

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ASTANA. KAZINFORM - Minister of National Economy Kuandyk Bishimbayev declared Monday that Kazakhstan's gross domestic product (GDP) has grown by 0.3% over the past eight months of 2016.

"After the tenge rate adjustment in August 2015 affected by falling crude oil prices, we've overcome one of the most difficult periods since the 2008 crisis. Dynamics of economic growth was quite unstable. After sharp decline in economic growth rates in the first five months of 2016, positive economic growth has been observed since June. Based on the results of eight months of 2016, the GDP growth hit 0.3%," Minister Bishimbayev said at the Government's hour at the Majilis, the lower chamber of the Kazakh Parliament.

In his words, this is due to the measures assumed within the framework of the Nurly Zhol Program and anti-crisis measures taken by the Government and the National Bank of Kazakhstan.

The minister also stressed that Kazakhstan is doing much better than its partner countries.

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