ASTANA, Kazakhstan, August 15. The government of Kazakhstan expects the country's economic growth to reach 5.6 percent in 2025, Trend reports.
This was stated during a meeting chaired by President of Kazakhstan Kassym-Jomart Tokayev. At the meeting, issues of the country's socio-economic development and the government's forecasts for the medium term were discussed.
The government also expected that inflation would take a nosedive to between 5.5 and 7.5 percent next year.
The event was attended by Prime Minister Olzhas Bektenov, Head of the Presidential Administration Aibek Dadebayev, Chairman of the National Bank, Chairman of the Supreme Audit Chamber, members of the government, and other officials.
Tokayev ordered the administration to improve macroeconomic indicators and state budget forecasts, establish a clear framework for prioritizing central and local government spending, and reinforce shadow economy measures.
Meanwhile, 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.
Furthermore, Kazakhstan's inflation slowed down over the year and amounted to 9.8 percent in December 2023 (in November, 10.3 percent).
Over the year, prices for food products increased by 8.5 percent (in November 2023, 9.2 percent), non-food products by 9.1 percent (in November 2023, 9.9 percent), and paid services by 12.4 percent (in November 2023, 12 percent).
In monthly terms, inflation took a slight dip and hit 0.8 percent (previous month: 1 percent).