August 15, Astana, Kazakhstan. The Kazakh government expects the country’s economic growth to reach 5.6 percent in 2025, Trend reports.
This was mentioned at a meeting chaired by President of Kazakhstan Kassym-Jomat Tokayev, at which the country’s socio-economic development issues and medium-term government prospects were discussed.
The government also forecast that inflation would fall sharply to 5.5-7.5 percent next year.
The event was attended by Prime Minister Olszczyk Bekhtenov, Head of the Presidential Administration Aybek Dadebayev, the Governor of the National Bank, the Chairman of the Supreme Audit Board, members of the government and other officials.
Tokayev ordered his administration to improve macroeconomic indicators and state budget forecasts, establish a clear framework for prioritizing central and local government spending, and strengthen measures to combat the black economy.
Meanwhile, Kazakhstan’s economic growth rate in 2023 is expected to reach 5.1%. Last year, the volume of investment in fixed capital increased by 13.7%, reaching $39.5 billion, and foreign direct investment of $19.7 billion was attracted in the first half of 2023.
Moreover, Kazakhstan’s inflation slowed over the year, reaching 9.8% in December 2023 (compared to 10.3% in November).
Over the year, food prices rose by 8.5% (9.2% in November 2023), non-food prices rose by 9.1% (9.9% in November 2023), and paid services prices rose by 12.4% (12% in November 2023).
On a monthly basis, the inflation rate fell slightly to 0.8% (last month: 1%).
