ASTANA, Kazakhstan, June 5. The Eurasian Fund for Stabilization and Development (EFSD) has published forecasts for economic growth in Kazakhstan, Trend reports.
Based on these projections, GDP growth in Kazakhstan is expected to moderate to 4.6 percent in 2024, down from a 5.1 percent growth in 2023.
Also, by 2025, GDP growth will have bounced back and be at 5 percent, according to the EFSD. Having said that, expansion will slow down to 4.7 percent in 2026.
According to EFSD, domestic demand will remain the key growth driver due to the implementation of large-scale government investment programs and the expansion of consumer activity. High growth rates will also be supported by expansionary fiscal policies.
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.