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EDB shares latest projections on Kazakhstan's GDP growth

Kazakhstan Materials 20 March 2023 13:08 (UTC +04:00)
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, March 20. The European Development Bank (EDB) expects Kazakhstan's GDP to increase by 4.2 percent in 2023, Trend reports citing the EDB.

The projection remains unchanged from the previous projection issued.

According to the bank, Kazakhstan's economy grew by 4.3 percent from January through February 2023.

"The output of the manufacturing sector increased by 2.7 percent, and the service sector - by 5 percent. High growth rates were noted in mining, agriculture, transport and warehousing, information, communications and trade. Investment activity has maintained high turnover," the bank said.

Earlier, the EDB analysts reported that Kazakhstan's investment attractiveness remains significant, as the investment activity grew by 18.3 percent year-on-year in January 2023.

The EDB is an international financial institution established to promote economic growth in its member states, extend trade and economic ties among them, and support integration in Eurasia through investment.

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