ASTANA, Kazakhstan, August 28. Inflationary pressures from global markets have eased, contributing to a slowdown in inflation in Kazakhstan, according to the assessments of the Eurasian Development Bank (EDB), Trend reports.
The bank noted that external factors are helping to balance out the remaining inflationary pressure within the country due to high consumer demand, rising prices, and increased costs for regulated items and services.
Additionally, the National Bank of Kazakhstan recently lowered the base rate from 16.75 percent to 16.5 percent. Analysts believe that if inflation continues to decrease, the National Bank will further reduce the base rate.
For 2023, inflation in Kazakhstan is projected to range between 10 and 12 percent, with GDP growth expected to be between 4.2 and 5.2 percent. The next scheduled decision on the National Bank's base rate will be announced on October 6.
The Eurasian Development Bank, established in 2006 and headquartered in Almaty, Kazakhstan, is an international financial institution engaged in investment activities aimed at developing economies and promoting trade and economic relations among its member states.