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Kazakhstan to see strong GDP growth in coming years - EDB

Kazakhstan Materials 29 November 2022 15:35 (UTC +04:00)
Kazakhstan to see strong GDP growth in coming years - EDB
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, November 29. The Eurasian Development Bank (EDB) expects Kazakhstan's GDP growth at 4.2 percent in 2023, 4.4 percent - in 2024, Aigul Berdigulova, Senior Analyst at the EDB, said at the online presentation of the EDB’s macroeconomic forecast for Kazakhstan, Trend reports, citing Kazakh media.

According to Berdigulova, the Bank expects the key growth driver for the next year to be the commissioning of new capacities at the Tengiz oil field, only if the Caspian Pipeline Consortium (CPC) will operate at full capacity and will reach its targets in accordance with the plans laid out.

The economist added that EDB expects Kazakhstan’s economy to expand by 2.8 percent in 2022, which is considered to be a solid result considering the exogenous circumstances. The EDB representative attributed the resilience of the Kazakh economy to effective fiscal policy measures.

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