13 Feb 2024 10:23

Economic growth in Kazakhstan will reach 6% in 2024 - PM

ASTANA. Feb 13 (Interfax) - Newly appointed Prime Minister of Kazakhstan Olzhas Bektenov instructed the cabinet to ensure 6% GDP growth in 2024.

"Our goal is to make sure that the economy grows at least 6% [in 2024]," Bektenov said at a Tuesday meeting of the government.

However, the economic growth rate was rather slow in January 2024, he said.

"We have to admit that the growth rate in the first month was slow," he said.

National Economy Minister Nurlan Baibazarov said at the meeting that the economy of Kazakhstan grew 3.9% in January 2024.

The previous cabinet led by Alikhan Smailov forecasted that Kazakhstan's economy would grow 5.3% in 2024.

The World Bank forecasts that the economy of Kazakhstan will grow 4.3% in 2024 and 4.5% in 2025. The International Monetary Fund forecasts growth of 3.1% and 5.7%, respectively.

Kazakhstan's GDP grew 5.1% in 2023 and 3.1% in 2022.