Kazakhstan Expects Oil to Cost $90 on Average in 2014-16

November 6, 2013

Deputy Minister of Economy and Budget Planning of Kazakhstan, Lena Karmazina, presented the draft law on the country's budget for 2014-2016 at the Senate of the Kazakh Parliament, a message of the press service of Kazakhstan's Ministry of Economy and Budget Planning said on November 4, the Azerbaijani news agency Trend reported on November 5.

"The oil price is set at $90 taking into account the average price over the last five years,"the message said.

According to the Vice Minister, Kazakhstan's nominal GDP will grow from 38.6 trillion tenges (154.25 tenges = $1) in 2014 to 66 trillion tenges in 2018.

Copyright: Trend, 2013