ASTANA, Kazakhstan, August 29. Kazakhstan's socio-economic development plan for 2025-2027 forecasts an average oil price of $75 per barrel, Deputy Prime Minister and Minister of National Economy Nurlan Baibazarov said, Trend reports.
According to him, the forecast is based on expectations from international financial organizations regarding global economic growth and external commodity market conditions. The International Monetary Fund (IMF) projects global economic growth of 3.3 percent in 2025, with a consensus forecast for the world oil price at $78 per barrel for the same year.
Baibazarov outlined that the projected real GDP growth for 2025 is 5.6 percent, with an average annual GDP growth of 5.4 percent over five years. Inflation is anticipated to be 5.5-7.5 percent in 2025, 5-6 percent in 2026, with a subsequent decrease to 5 percent from 2027 to 2029.
The government also reviewed budget parameters for 2025–2027. According to the forecast, the national budget revenues (excluding transfers) are expected to reach 15.6 trillion tenge ($32.4 billion) or 10.4 percent of GDP in 2025, 16.7 trillion tenge ($34.7 billion) or 9.9 percent of GDP in 2026, and 18.2 trillion tenge ($37.8 billion) or 9.6 percent of GDP in 2027.