EBRD downgrades Kazakhstan GDP forecast from 5.1% to 1.5%


EBRD downgrades Kazakhstan: The European Bank for Reconstruction and Development has revised its forecast for  Kazakhstan’s 2015 GDP growth rate down from its September prediction of 5.1% to 1.5%. This means that the country’s GDP growth will have dropped almost five percentage points in two years, a performance that the Bank puts down to the Ukrainian crisis, the ensuing economic downturn in Russia and falling commodity prices. Tengrinews