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Renaissance Capital updates Kazakhstan's GDP growth forecast

Kazakhstan Materials 19 December 2022 07:45 (UTC +04:00)
Renaissance Capital updates Kazakhstan's GDP growth forecast
Emin Sevdimaliyev
Emin Sevdimaliyev
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BAKU, Azerbaijan, December 19. The GDP growth in Kazakhstan accelerated to 2.7 percent year-on-year in 11M22, amid renewed growth in industrial production, a source in Renaissance Capital told Trend.

The growth rate in 10M22 constituted 2.5 percent.

The growth is largely attributed to the recovery of oil production, as well as accelerated trade growth. At the same time, the growth in agriculture and construction eased moderately.

Renaissance Capital expects the growth to continue at the end of 2022, and next year. The projected GDP growth of the country in 2023 is expected to be 4 percent.

Renaissance Capital is one of the leading investment banks in emerging frontiers with a special focus on Russia & CIS, Central & Eastern Europe, Africa, and MENA.

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