EDB Announces Growth Rate of Member States

Kazakhstan’s economy will grow by 3.2% at the end of 2018, the Kazakh media outlets said Friday, Trend reported. According to the forecast of analysts of the Eurasian Development Bank, the economic growth of the member countries will be 2.1% at the end of 2018. The forecast for the countries has not changed much—Russia 1.8%; Belarus 3.8%; Kazakhstan 3.8%; Kyrgyzstan 3.2%; and Tajikistan 7.1%. Inflation rate slowed down in April-June 2018. Therefore, inflation forecasts were revised: from 6% to 5.1% for Belarus and from 4.2% to 2% for Tajikistan. The EDB is an international financial organization established by Russia and Kazakhstan in January 2006 to promote the development of the market economy of the member states, their sustainable economic growth and the expansion of mutual trade and economic ties. EDB’s authorized capital is $7 billion.  EDB member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.