World Bank lowers its forecast for Kazakhstan's GDP growth in 2024 to 3.4%The World Bank (WB) forecasts Kazakhstan's GDP growth in 2024 at 3.4%, according to the WB's updated economic forecast for developing countries in Europe and Central Asia.In January, the World Bank expected Kazakhstan's GDP growth this year to be 4.3%.At the same time, the bank raised its forecast for Kazakhstan’s GDP growth in 2025 from 4.5% (in January) to 4.7%.“Lower oil prices and stagnant oil production are likely to slow economic growth in Kazakhstan to 3.4% in 2024 from 5.1% last year. (...) Expectations for lower economic growth for 2024 reflect lower expectations in oil production due to maintenance of main fields and Kazakhstan’s compliance with the OPEC+ agreement to cut production,” the information says.Inflation, according to the World Bank forecast, will be 8% in 2024, 6.7% in 2025 and 5.6% in 2026. “Inflation is expected to decline gradually, but remain above the 5% target in 2024. Planned increases in utility tariffs and the potential for sustained fiscal deficits could hinder the projected downward trend,” the WB says.As reported, the economic growth of Kazakhstan in 2023 was 5.1%, inflation was 9.8%. (ICE ALMATY)

Fonte notizia: INTERFAX