Newsfeed

Source: inform.kz

The Ministry of National Economy announced oil prices forecast for years 2019-2023.

"In recent two months, we have seen significant volatility in oil prices. In early October their price made $86.2 per barrel. On November 23, the prices dropped by 32% and made $58.8 per barrel. With the consideration of the situation at the global markets and IMF forecasts, oil price forecast was reduced from $60 to $55 per barrel," said Minister Timur Suleimenov.

He added that budget parameters have been revised for years 2019-2021, too.

National budget income (without transfers) is predicted at 6trln786bln tenge in 2019, 7trln360bln tenge in 2020 and 7trln998bln tenge in 2021. Budget expenditures are expected to make 10trln727bln tenge in 2019, 11trln59bln tenge - in 2020 and 11trln402bln tenge - in 2021. 

According to Suleimenov, budget deficit in 2019 is envisaged at 1.5% against GDP in 2018 with further decline by 1.4% against GDP in 2020 and by 1.3% against GDP in 2021.

Non-oil deficit will reduce from 6.9% against GDP in 2019 to 5.3% against GDP in 2021. Currency assets of the National Fund will go up from $63bln in 2019 to $67.4bln in 2021 (33.6% against GDP), he added.

KAZ RUS ENG

IMPORTANT: Please read carefully the following disclaimer in full. Please note that the disclaimer below may be amended or supplemented.

DISCLAIMER

Forward-looking statements

This website may include statements that are, or may be deemed to be, ‘‘forward-looking statements’’. These forward-looking statements can be identified by the use of forward-looking terminology including, but not limited to, the terms ‘‘believes’’, ‘‘estimates’’, ‘‘anticipates’’, ‘‘expects’’, ‘‘intends’’, ‘‘may’’, ‘‘target’’, ‘‘will’’, or ‘‘should’’ or, in each case, their negative form or similar or comparable terminology, or links to discussions of strategy, plans, objectives, goals, future events or intentions are meant to indicate forward-looking statements. These forward-looking statements include all statements that are not historical facts. Such forward-looking statements, without limitation, are the statements of intention, opinion, forecast and Company statements regarding its expectations in relation to, amongst other things, the Company performance, financial condition, liquidity, prospects, growth, potential acquisitions, strategies and the industries in which the Company operates. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Forward-looking statements do not guarantee the future performance and the actual performance, including the financial condition and liquidity of the Company and the development of the country and the industries in which the Company operates may differ significantly from what is described on this website or is assumed according to the forward-looking statements contained on this website. The information contained on the website is not exhaustive. Despite the thorough preparation of information, not all information can be accurate and relevant in all respects, and the Company shall not be liable for updating any information regarding the industry or any forward-looking statements contained on this website, whether as a result of new information, future events or any other circumstances. Any information represented or contained on this website may be corrected or amended without prior notice. The Company does not make any assurances, does not provide any guarantees and does not make any forecasts that the results indicated in such forward-looking statements will be achieved.

The Company shall not be liable for the correct understanding of the information published on this website by the third parties. For whatever purpose, one should not rely on the accuracy, completeness or validity of the information or opinions contained on this website, and no responsibility or liability is assumed by the Company, its shareholders or associated companies, their officials, employees, directors, affiliates, agents or consultants for any information or opinions or for any errors or omissions contained on this website. The company shall not be liable for investment and other financial decisions of the third parties based on the forward-looking statements published on this website.

Neither the Company nor its consultants shall bear any liability for direct or indirect or subsequent losses of any kind arising from the use of this website or the information it contains.

I have read the Disclaimer