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EDB forecasts drop in Kazakhstan's inflation rate

Kazakhstan Materials 29 November 2022 15:43 (UTC +04:00)
EDB forecasts drop in Kazakhstan's inflation rate
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, November 29. Eurasian Development Bank (EDB) expects inflation in Kazakhstan to reduce to 8 percent by the end of 2023, 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, EDB expects a drop from 19 percent at the beginning of the year to 8 percent by December 2023 - a staggering 11 percent decrease during a calendar year.

The economist added that, despite the favorable prediction, significant inflationary pressure remains, which stems from the external sector of the economy. Should inflation reduce by mid-year, the National Bank of Kazakhstan may look to reduce the base rate from 16 percent, which will be retained in early 2023.

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