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ALMATY, Oct 8: Kazakhstan’s central bank warned on Monday that the global liquidity crunch could lead to a lowering of the country’s 9.9 per cent gross domestic product growth forecast this year, but said the sovereign did not need to start borrowing.
“I think the government may revise some of its forecasts on GDP growth because the lending activity of the banks was an important source of growth,” National Bank Chairman Anvar Saidenov told reporters.
He said the bank saw no need for the Central Asian state to borrow to help the commercial banking sector and saw no downward pressure on the national tenge currency.—Reuters
