BAKU, Azerbaijan, March 7. Dutch ING (Internationale Nederlanden Groep) predicted that Kazakhstan's gross domestic product (GDP) will expand in the next three years with a growth of 3.8 percent forecasted in 2023, Trend reports, citing ING.
Thus, the growth prediction for 2023 remains unchanged.
The growth is forecasted to continue in 2024 as the Kazakh economy is poised to expand by four percent. Earlier, ING forecasted Kazakhstan’s GDP to increase by 3.5 in 2024.
A similar trend will continue in 2025 with three percent growth being anticipated. Consequently, the Kazakh economy is expected to increase by 3.6 percent per annum on average, which is a slight 0.2 percent increase compared to the earlier forecast.
ING expects the Kazakh economy to grow by 3.5 percent in 1Q2023, which will be followed by a growth of 4 percent in 2Q2023.
Meanwhile, the growth in the remaining two quarters of the current year will reach 4.1 percent each.
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.