ASTANA, Kazakhstan, May 18. Fitch Ratings has published forecasts for economic growth in Kazakhstan, Trend reports.
The analysts at Fitch forecast that GDP growth will slow to 3.8 percent in 2024 from 5.1 percent in 2023.
In their opinion, this will be due to a slowdown in investment, construction, and credit growth, as well as a slight slowdown as a result of severe flooding in April in the north-west of the country.
At the same time, Fitch projects GDP growth to accelerate to 5 percent in 2025.
As Fitch noted, the acceleration of GDP growth in 2025 will be facilitated by increased oil production.
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.