ASTANA, Kazakhstan, June 4. The International Monetary Fund (IMF) has recommended Kazakhstan to accelerate the implementation of structural and climate-related reforms, Trend reports.
"Improving future economic growth and diversification requires accelerating structural and climate-related reforms," reads the statement of Nicolas Blancher, IMF Mission Chief for Kazakhstan, following the visit of the IMF mission to Kazakhstan.
According to the statement, the recently adopted decree for economic liberalization lays out important goals and steps to reduce the role of the state and increase competition in the economy, and its timely implementation would bring about significant progress.
"Meeting Kazakhstan’s climate objectives and commitments will also require decisive efforts and incentives to promote green energy sources and decarbonization, including through continued energy tariff adjustments, improved functioning of the emissions trading system, and upgraded energy infrastructure," reads the statement.
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.