IMF Expects Kazakhstan's Economic Growth To Slow In 2024
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, June 6. The International
Monetary Fund (IMF) projects Kazakhstan's economic growth to slow
to around 3.5 percent in 2024, Trend reports.
"Kazakhstan's Economy has remained resilient. Real GDP expanded
by 5.1 percent in 2023. For 2024, growth is projected to moderate
to about 3.5 percent, supported by robust activity in
manufacturing, construction, and services," reads the statement of
Nicolas Blancher, IMF Mission Chief for Kazakhstan, following the
visit of the IMF mission to Kazakhstan.
At the same time, the IMF expects that in the medium term,
non-oil GDP growth will be in the 3–3.5 percent range, in line with
its estimated potential, while a current account deficit will
persist due to lower oil prices.
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.
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