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Kazakhstan’s GDP up 1.2% in 2015

January 15, 2016, 21:14 UTC+3 ASTANA
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ASTANA, January 15. /TASS/. Kazakhstan’s GDP grew by 1.2% in 2015, First Deputy Prime Minister Bakytzhan Sagintayev said on Friday with reference to preliminary calculations.

According to the official, "timely assumed targeted measures to back industrial enterprises allowed to avoid a substantial docline in production." Industrial production went down by 1.6% while agriculture grew by 4.4%, he added.

"Taking into account a sharp drop in oil prices and volatility on global markets", President Nursultan Nazarbayev requested the government to develop a potential scenario of economic development amid various global oil prices, up to $20 per barrel, Sagintayev said. "Those forecasts will be discussed at the meeting of the Council of economic policy at the government on January 19," he said, adding that "most probably we’ll have to take tough budget decisions, review expenditures and outline inefficient areas of financing."

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