BAKU, Azerbaijan, June 28. The inflation rate in Kazakhstan is expected to stand at 12.2 percent in 2023, Trend reports.
This is evident from the latest macroeconomic survey conducted among by the National Bank of Kazakhstan a community of experts, with the participation of 10 organizations.
Experts believe that in the current year, inflation will stabilize, considering that it currently stands at 15.9 percent.
"In 2023, respondents forecast inflation at 12.2 percent (compared to 11.8 percent in May), and in 2024, it is expected to be 9.4 percent. In 2025, a slight decrease to 7.1 percent is anticipated," the analysts say.
The experts have also maintained their expectations for Kazakhstan's economic growth in 2023 and 2024 at a level of 4 percent.
Meanwhile, inflation rate in Kazakhstan experienced a notable downturn in March, marking its first decline since mid-2021. According to the World Bank data, the year-on-year inflation rate in the country dropped to 18.1 percent in March, compared to 20.7 percent in January and 21.3 percent in February.