BAKU, Azerbaijan, May 5. The GDP growth of Kazakhstan for the first quarter of 2022 is estimated at 4.4 percent, the Chairman of the National Bank of the Republic of Kazakhstan Galymzhan Pirmatov said at the plenary session of the senate,Trend reports via Kazakh media outlets.
“In the domestic economy, the situation is positive. The economy returned to pre-pandemic levels in 2021, growing by 4 percent. The growth of retail trade turnover in March 2022 accelerated to 3.7 percent in annual terms,” Pirmatov said.
The head of the National Bank added that the continued growth in consumption puts upward pressure on inflation in Kazakhstan, which accelerated to 13.2 percent in April.
“The greatest growth occurs in food products, which grew by 17.9 percent. Growth in prices for non-food products accelerated to 11.1 percent, paid services - up to 8.9 percent,” he said.