Kazakhstan's National Bank forecasts economic growth in 2022

Kazakhstan Materials 8 February 2022 11:34 (UTC +04:00)
Kazakhstan's National Bank forecasts economic growth in 2022

BAKU, Azerbaijan, Feb. 8


The National Bank of Kazakhstan (NBK) forecasts the country’s economic growth by 3.9-4.2 percent in 2022, the NBK’s Chairman Galymzhan Pirmatov said at the governmental meeting, Trend reports citing the bank.

According to Pirmatov, the economy of Kazakhstan, based on the international organizations’ estimates, will grow by 3.7-4 percent this year.

He noted that the international organizations predict price stabilization no earlier than mid-2022, if imbalances are exhausted in the short term.

With longer interruptions in supplies and rising prices for raw materials and food, the stabilization of inflation will last longer, the bank’s head also said.

"In the context of rising inflationary pressures, central banks have begun a transition to tightening monetary conditions, which will be actively continued in 2022 and is already putting pressure on the markets," added Pirmatov.