ADB maintains Kazakhstan's GDP growth forecast at 3.6% for 2024The Asian Development Bank (ADB) forecasts Kazakhstan's GDP growth at 3.6% in 2024 (September forecast - 3.6%) and 5.1% in 2025 (September forecast - 5.1%), according to the Asian Development Outlook 2024 Review on the ADB website."GDP growth in Kazakhstan, the largest economy in the subregion, was 4% in January-September 2024. Among the main economic sectors, agriculture rebounded by 11.4% thanks to favorable weather conditions (…). Construction, transport, trade and manufacturing also contributed to overall growth," the ADB report said.At the same time, oil production in Kazakhstan fell slightly in the first 9 months of 2024 compared with the same period in 2023, the information said.The ADB expects inflation in Kazakhstan to accelerate from 8.4% per year in November to 8.5% by the end of this year. The ADB also maintained its CPI forecast for 2025, with inflation expected to slow to 6.1% next year.The baseline forecast of the National Bank of Kazakhstan, on the other hand, assumes inflation of 8-9% in 2024, 6.5-8.5% in 2025 and 5.5-7.5% in 2026. GDP growth in the baseline scenario is 4-4.5% in 2024, 4.5-5.5% in 2025 and 4.6-5.6% in 2026.According to Nurlan Baibazarov, Kazakhstan's Minister of National Economy, the republic's economic growth in January-September 2024 was 4%.By the end of 2023, Kazakhstan's economy had grown by 5.1%.The ADB raised its GDP growth forecast for the Caucasus and Central Asia countries from 4.7% to 4.9% for 2024 and from 5.2% to 5.3% for 2025.The inflation forecast for the Caucasus and Central Asia subregion was revised downwards from 6.9% (September forecast) to 6.8% for 2024, and remained at 6.2% for 2025. (ICE ALMATY)

Fonte notizia: INTERFAX