Kazakh president forecasts minimum of 5.5% GDP growth in 2025

ASTANA. May 30 (Interfax) - Kazakhstan's economy will grow by at least 5.5% this year, President Kassym-Jomart Tokayev said in an interview with Al-Jazeera on Thursday.

"I hope that Kazakhstan's economic growth will reach at least 5.5% this year. That's what it will be. We forecast that the figure will at least exceed 5%. However, this is not as ambitious a result as we have been aiming for. That is why the government is seeking additional drivers for economic growth," Tokayev said.

Kazakhstan has four priority areas for development: large-scale infrastructure projects, digitalization and artificial intelligence (AI), agriculture, and transport and logistics, he said.

"I believe these goals will be achieved during my presidency, which ends in 2029," he said.

Kazakhstan's GDP reached $290 billion last year, and the country ranks first in the region in terms of GDP per capita, he said. "Our GDP is the highest in Central Asia. However, we are not resting on our laurels," he said, adding that Kazakhstan's economy is growing slower than desired. External factors and natural obstacles as factors hindering GDP growth, he said.

As reported, the economy of Kazakhstan expanded 6% in January-April 2025. The country's National Bank forecasts economic growth of 4.2%-5.2% in 2025-2026, while the World Bank expects 4.7% growth this year and 3.5% in 2026. The Asian Development Bank (ADB), in its April review, revised its 2025 forecast for Kazakhstan downwards to 4.9% (from 5.1% in September 2024), while maintaining its 2026 forecast at 4.1%. The International Monetary Fund (IMF) also lowered its 2025 forecast to 4.9% but improved its 2026 projection to 4.3%.