- The rate of inflation is expected to hit 7% by 2013
- Gold expected to reach $2,232 by 2013, an increase of 27.1%
MOSCOW, Sept. 26, 2012 /CNW/ - Speaking at a recent conference in
Almaty, Kazakhstan, Anatoly Hegai, Analyst of FOREX CLUB, said he
expects Kazakhstan's GDP to grow by 6% in 2013, while also predicting
that the volatility in the economy would continue until the end of the
year. This is understood to be mainly due to the continued uncertainty
in the Eurozone and a general slowdown in the world economy, putting
further pressure on domestic demand, as well as growth in Kazakhstan's
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The current climate indicates that the pace of Kazakhstan's GDP growth
in 2012 is unlikely to achieve the previously identified targets of
6.0% - 6.5% and is more likely that the increase in GDP in the current
year will be instead around 5.5% - 5.7%.
Anatoly Hegai, Analyst of FOREX CLUB, said: "The current fragile state of the global economy continues to put
pressure on the balance of Kazakhstan's payments. Current account
surpluses in the second half of 2012 are expected to reach 1.47 to 1.97
billion US dollars against 2.53 billion dollars in the first half. This
will see the Tenge potentially reach 149 to 150 against the US dollar.
However, the expected reduction of the debt crisis in the Eurozone by
2013 will moderately improve the balance of payments - we expect a
surplus of 6 billion US dollars by 2013, from 4.0 to 4.5 billion in
Hegai went on to suggest that the debt crisis in the Eurozone is likely
to ease in early 2013, providing additional support to both the
commodity markets and Kazakhstan's economy. He predicted that by the
end of 2013 the country's GDP could grow by 6.1% - 6.4% and that the
acceleration of inflation is expected to be 6.5% - 7.0% versus 6.0% -
6.2% this year.
Nikolay Ivchenko, Deputy Head of Research of FOREX CLUB, also speaking
at the conference, said: "One of the most interesting investments right now is gold. The
introduction of new stimulus measures by the US central bank could very
well increase the price of gold to $1,800 by the end of 2012, up 2.5%
from its current level.
"Our experience has shown that following individual rounds of
quantitative easing in the U.S., the price of gold continues to rise
with an appreciation potential of around 25%. We would therefore expect
to see gold reach $2,232 by the beginning of 2013, an increase of
27.1%. With no VAT on cash transactions of gold in Kazakhstan, this
makes it an attractive investment opportunity to the public."
The views expressed in this release are for information purposes only
and do not constitute the provision of investment advice or an offer to
sell or the solicitation or an offer to buy, or a recommendation to buy
or sell securities or services.
About the Speakers
Nikolay Ivchenko has been working in FOREX CLUB Group of Companies since 2004 and has
been Deputy Head of Research since 2010. >From 2003 to 2004, Nikolay
was a senior lecturer at the Department of Finance of the Crimean
Institute of Business. Prior to 2003, he worked as an economist in
Russian investment companies. Mr Ivchenko specialises in fundamental
analysis, analysis of the situation in the world economy and Ukraine's
economy, as well as the dynamics of the exchange rates of major
currency pairs. In addition, Nikolay analyses the metals market and the
U.S. stock market.
In 2003-2004 Nikolay completed courses for securities brokers. Between
2001 and 2003 he was a postgraduate student of Orenburg State
University. He graduated from Orenburg State University with a Bachelor
Degree in Banking.
Nikolay Ivchenko's biography in pdf.
Anatoly Hegai has been working in FOREX CLUB Group of Companies since 2007, and since
2011 has been working as an Analyst. Anatoly specialises in analysing
the situation in the world economy and the economy of Kazakhstan,
dynamics of the major currency pairs and the grain market. He also
analyses the dynamics of quotations on the Asian stock markets.
In 2007 he passed a number of additional training courses on the
financial markets, achieving an Analyst qualification. Prior to that,
he studied at the Department of Management at the Tashkent Road
Anatoly Hegai's biography in pdf.
About FOREX CLUB Group of Companies
FOREX CLUB Group of Companies was founded in 1997 and is one of the
leading global online trading and forex brokers. FOREX CLUB provides
efficient access to trading in the financial markets to hundreds of
thousands of clients in more than 120 countries in the world, as well
as providing specialised education in online trading and regular
financial analytics through its partner, the International Academy of Investment and Trading.
The structure of the group of companies includes, among other
businesses, our broker in the Russian Federation, LLC FOREX CLUB (FFMS
licence number 004857) and our international broker, FOREX CLUB
FOREX CLUB is one of the principal founders and participants of CRFIN, a self-regulatory organisation established to develop an effective
model of forex market regulation in the Russian Federation.
SOURCE: Forex Club
For further information:
Indiana Kasayeva, Marketing Analyst, FOREX CLUB, Kazakhstan, +7(727)330-84-84, +7(727)332-20-95, email@example.com; Ivan Klyuyev, PR Manager, FOREX CLUB, +7(968)894-17-83, firstname.lastname@example.org