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Kazakh GDP growth planned at around 4% in 2023-2025, say authorities

It is reported that with the current dynamics maintained, the average annual oil price is expected to exceed $100 per barrel in 2022

ASTANA, October 19. /TASS/. Kazakhstan’s authorities expect the country’s real GDP growth at 4-4.1% within the next three years, according to findings by the committee on finances and budget of the Mazhilis (lower house of parliament).

Lawmakers consider the draft of bill ‘On republican budget for 2023-2025’ on Wednesday. "The base scenario is used a basis for drafting the republican budget for 2023-2025. Real GDP growth is projected at 4-4.1% in 2023-2025," the findings say.

With the current dynamics maintained, the average annual oil price is expected to exceed $100 per barrel in 2022. "The mid-term outlook is based on a more conservative price of $85 per barrel," according to findings.

In January-September the Kazakh GDP growth was 3.1%. The republic’s authorities expect it to add at least 3% by yearend.

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