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Government of Kazakhstan forecasts 5.3% growth of GDP in 2024

Inflation is estimated to be at the level of 6-8% in 2024 and 5.5-7.5% in 2025, with the further decline to 5% in 2026-2028

ASTANA, August 29. /TASS/. Kazakh authorities forecast that the real growth of national GDP in 2024 will stand at 5.3%, Minister of National Economy Alibek Kuantyrov said.

"The real GDP growth in 2024, according to forecasts, will amount to 5.3% with further growth to 6% in 2028," the minister said, presenting the socioeconomic development outlook for Kazakhstan for 2024-2028.

The government estimated that the average annual growth of GDP will be 5.8% over five years. Inflation will be at the level of 6-8% in 2024 and 5.5-7.5% in 2025, with the further decline to 5% in 2026-2028.

The forecast was formed with consideration of expectations of international financial institutions for the global economic growth and the situation in international markets, the minister added.

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