World Bank improves Kazakhstan's GDP growth outlook to 4.3% in 2024, 4.5% in 2025

ALMATY. Jan 10 (Interfax) - The World Bank expects Kazakhstan's GDP will expand by 4.3% in 2025 and by 4.5% in 2025, according to the bank's January Global Economic Prospects report.

In its June 2023 report, the World Bank anticipated Kazakhstan's economic growth at 4% in 2024 and 3.6% in 2025.

According to the World Bank's estimates, Kazakhstan's GDP increased by 4.5% in 2023.

"Growth in Central Asia is forecast to be broadly stable at about 4.8% a year over 2024-25, the highest among sub-regions. Still-high commodity prices, resilient consumer spending amid cooling inflation, and sustained export growth benefiting from rising oil production capacity in Kazakhstan, are expected to support the activity," the report says.

Kazakhstan's GDP was expected to grow 4.9% in 2023, President Kassym-Jomart Tokayev said earlier.