Economics

National Bank forecasts acceleration of annual inflation in Kazakhstan

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The National Bank forecasts an acceleration of annual inflation in Kazakhstan. This was announced by the head of the financial regulator Yerbolat Dosayev during a government meeting, Kazpravda.kz reports.

"The updated forecast of GDP for 2020 corresponds to the estimates of the National Bank. Taking into account the actual dynamics and emerging external factors, we published our forecast in September, according to which the decline in GDP in 2020 is expected at the level of 2.0-2.3%," Dosayev said.

He noted that on the basis of updated data on GDP, the forecast for indicators of monetary policy and balance of payments was updated.

"Annual inflation will accelerate to 8.0% by the end of 2020. This will happen against the backdrop of continued high growth in food prices and the influence of exchange rate on pricing processes," added the head of the National Bank.
Author:
Aidana Demesinova
11:30, 13 October 2020
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