Kazakhstan’s Economy May Expand 7% This Year, Kelimbetov Says

Kazakhstan’s economy may grow 7 percent this year bolstered by “favorable” conditions on global commodity markets, Economic Development and Trade Minister Kairat Kelimbetov said.

President Nursultan Nazarbayev ordered that the economy must expand at least 7 percent, Kelimbetov said today at a Cabinet meeting in the capital, Astana, according to an e-mailed copy of his speech.

“We see reserves for the 7 percent growth in the processing industry and construction,” Kelimbetov said. The Kazakh economy expanded 6.5 percent in the first quarter compared with the same period last year, he said, citing preliminary figures.

To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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