(EnergyAsia, March 17 2017, Friday) — Kazakhstan’s economy will continue to recover with growth projected at 2.5% in 2017 to follow through last year’s 1% expansion and 2015’s 3.7% contraction, predicts the International Monetary Fund (IMF).

Higher oil production and prices in recent months have lifted the country’s conditions from its worst economic recession in over 20 years.

“Growth is projected to reach 2.5% in 2017 and non-oil growth should reach 4% by 2021. This will reflect a further increase in oil production, the impact of structural reforms, and an unlocking of bank lending,” said the IMF.