ADB Shares Forecast On Kazakhstan's GDP Growth
Date
7/23/2024 2:34:45 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, July 23. The Asian
Development bank (ADB) has published forecasts for economic growth
in Kazakhstan for 2024 and 2025, Trend reports.
GDP growth is expected to be 3.8 percent in 2024 (in line with
the April outlook).
According to ADB, this year, construction and manufacturing will
remain the main drivers of the country's economic growth.
At the same time, it is expected that GDP will recover in 2025,
reaching 5.3 percent by the end of the year. This will be
facilitated by increased oil production due to the completion of
the Tengiz oil field expansion project in the second quarter of
2025.
Meanwhile, Kazakhstan's Ministry of National Economy predicts
GDP growth of 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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