January 23, 2013 / 9:46 AM / 5 years ago

UPDATE 1-Kazakh 2012 GDP growth slows as crisis bites

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ASTANA, Jan 23 (Reuters) - Kazakhstan’s economic growth slowed to 5.0 percent in 2012 from 7.5 percent a year earlier as the general instability of the global economy dealt it a blow, Prime Minister Serik Akhmetov said on Wednesday.

Oil-producing Kazakhstan, Central Asia’s largest economy, is also a major producer and exporter of uranium, industrial metals and grain.

“Amidst an unstable global economy and in unfavourable market conditions, the government adopted a set of rapid anti-crisis measures as you ordered, which allowed to keep economic growth at 5 percent in 2012,” Akhmetov reported to President Nursultan Nazarbayev during a meeting with the cabinet which was broadcast live.

Akhmetov gave no projection for GDP growth this year.

Kazakh central bank head Grigory Marchenko said this month he expects GDP to expand by 5 to 6 percent this year. (Reporting by Raushan Nurshayeva; Writing by Dmitry Solovyov; Editing by Toby Chopra)

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