BAKU, Azerbaijan, February 9. Dutch ING (Internationale Nederlanden Groep) expects Kazakh inflation to decrease to 13.4 percent in 2023, Trend reports, citing ING.
The inflation is expected to decelerate further to 7.5 percent in 2024, and to 6.8 percent in 2025.
Consequently, the average inflation during the next three years will amount to 9.2 percent, according to the ING estimates.
Inflation will remain significant during 1Q2023, however. The Dutch giant expects inflation to roam around 17 percent level during this period. Things will change for the better in 2Q2023 when inflation will drop to 9.1 percent.
A similar trend will be observable in the remaining two quarters, with inflation decreasing to 9.1 and 7.7 percent respectively.
The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services.