Kazakhstan to expect 0.6% GDP growth in 1999 and 3.0% in 2000

/IRBIS, Dec.7, 99/ - As REUTERS informs, with the reference to economics minister Jaksybek Kulekeev, Kazakhstan expects 0.6% GDP growth in 1999, instead of forecasted 1.5% decline, and hopes economic growth in 2000 will reach 3.0% instead of previously forecast of 1.0%. "The situation is in our favor, in general, we are confident that economic growth will reach 0.6% by the end of current year, and in 2000 we would like to provide at least 3.0% growth", he said to journalists. According to Kulekeev, inflation will remain unchanged in 2000 at 16-17 percent. Both internal and external factors are considered in making a forecast by the government. Oil prices are tend to grow, and prices of ferrous and non- ferrous metals will likely to stay the same, which will stimulate development of Kazakhstani exports. An economic growth, which is taking shape in Russia is making the government of Kazakhstan more optimistic. "If the situation in Russia keeps improving, this process will affect our economy as well", said the minister. Kazakhstan incurred 2.5 percent economic decline last year due to suspension of export-oriented enterprises because of the world crisis. In 1997 Kazakhstan had 1.7 percent GDP growth compared with 0.5 percent in 1996.