The Asian Development Bank (ADB) has kept this year’s forecast for the economic growth of Kazakhstan unchanged at 3.8% (as in April), while the International Monetary Fund (IMF) has improved its forecast by 0.4 percentage points to 3.5%. In 2023, the country’s economy grew by 5.1%. Both institutions reported this in their surveys.
The ADB’s forecast for 2025 has also remained unchanged at 5.3%. According to the Asian Development Outlook for July 2024, Kazakhstan’s economy grew 3.7% year-on-year in the first quarter of 2024, driven by the booming construction sector, processing industry and services.
This year, economic growth...