ASTANA, Kazakhstan, December 4. The Dutch ING (Internationale Nederlanden Groep) has updated its GDP growth forecast for Kazakhstan until 2026, Trend reports.
The forecast says Kazakhstan’s GDP growth in the fourth quarter of 2023 will be 4.5 percent, and growth in 2023 as a whole will be 4.7 percent.
At the same time, as ING analysts note, in the first and second quarters of 2024, the GDP growth will decline - 3.5 percent and 3 percent, respectively. However, for 2024 overall, the growth will be 4 percent.
In addition, the forecast for 2025 has been increased. Thus, ING thinks that GDP growth in Kazakhstan in 2025 will be 5 percent.
Kazakhstan's economic growth reached 4.9 percent from January through October 2023.
The growth rate of investment in fixed capital amounted to 12.6 percent.
From January through September 2023, foreign trade turnover increased by 2.4 percent and amounted to $102 billion.
The manufacturing industry grew by 3.2 percent, the output of the mining industry increased by 6.1 percent, and the volume of completed construction work increased by 12.5 percent.