ASTANA, Kazakhstan, May 14. The Dutch ING (Internationale Nederlanden Groep) has revealed its GDP growth expectations for Kazakhstan, Trend reports.
According to the ING, in the second quarter of 2024, GDP growth will be 3.8 percent, respectively. As ING analysts note, in the third and fourth quarters of 2024, growth will be 5 and 4.5 percent, respectively.
In addition, ING analysts expect roughly stable GDP growth in the first three quarters of 2025. Thus, in the first and second quarters of 2025, Kazakhstan's GDP growth will be 5.5 percent, and in the third quarter, it will decrease to 4.5 percent.
Meanwhile, Kazakhstan's Ministry of National Economy expects GDP growth to be 5.3 percent in 2024 and 6 percent in 2025 and 2026.
Furthermore, Kazakhstan's economic growth amounted to 5.1 percent in 2023. Last year, the volume of investments in fixed capital increased by 13.7 percent and amounted to $39.5 billion, while over the first nine months of 2023, $19.7 billion of foreign direct investment was attracted.
The ING Group is a Dutch multinational banking and financial services firm based in Amsterdam. The main sectors in which it operates are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services.