IMF lowers Kazakhstan's 2024 GDP growth outlook to 3.1% from 4.2%

ASTANA. Jan 30 (Interfax) - The International Monetary Fund has lowered its outlook for Kazakhstan's GDP growth in 2024 to 3.1% from the 4.2% it was predicting earlier, the IMF said in its January World Economic Outlook update, published on Tuesday.

The IMF now expects Kazakhstan's economy to grow 5.7% in 2025, up from a previous forecast of 4.6%.

The World Bank expects Kazakhstan's GDP will expand by 4.3% in 2024 and 4.5% in 2025. The Eurasian Development Bank expects 5% and 5.1%, respectively.

This year's budget assumes 5.3% growth.

GDP grew 5.1% in 2023.