EBRD upgrades Kazakhstan’s GDP growth outlook to 5% in both 2023 and 2024The European Bank for Reconstruction and Development (EBRD) has improved the economic growth outlook for Kazakhstan to 5% in 2023, the EBRD said in statement on Wednesday.“The economy of Kazakhstan is set to grow by 5% in both 2023 and 2024, though with some uncertainty arising from oil prices. The country has seen significant expansion in sectors such as retail and wholesale trade and construction,” the statement says.In its May report, the EBRD expected the Kazakh economy to expand by 3.9% in 2023 and by 4.2% in 2024.According to the EBRD, there has also been a pick-up in public and private investment in infrastructure, transport and warehousing, reflecting Almaty’s growing role as a distribution hub serving Central Asian markets.“The ongoing war on Ukraine, however, may have a negative impact on the operation of the Caspian Pipeline Consortium terminal on the Black Sea, potentially disrupting Kazakhstan’s oil exports,” the statement says.In 2022 the economy of Kazakhstan increased by 3.1%. The country’s GDP growth reached 4.9% in January-August 2023. (ICE ALMATY)

Fonte notizia: INTERFAX