Kazakhstan's National Bank raises 2025 GDP forecast to 5-6%, cuts 2026 outlookThe National Bank of Kazakhstan has revised its economic growth forecast upward for 2025 to 5-6%, citing stronger domestic demand and increased investment activity.The National Bank adjusted its 2026 GDP growth projection downward to 4-5%, compared with an earlier estimate of 5.2%, due to an expected moderation in export growth amid a scenario of lower oil prices."Economic expansion in 2026 will continue to be supported by domestic demand and rising oil production. Beyond that, growth will depend on the successful implementation of structural reforms planned by the government, including measures to boost capital investment, attract foreign direct investment, and advance economic liberalization," the regulator said in a statement.The revision marks a reversal from the bank's previous downward adjustment for 2025-2026, when it had projected growth at 4.2-5.2%.In April, major international institutions downgraded their 2025 growth projections for Kazakhstan. The World Bank anticipates 4.5% growth, while the International Monetary Fund and Asian Development Bank project 4.9%. The European Bank for Reconstruction and Development in May similarly revised its estimate down to 4.9%.President Kassym-Jomart Tokayev has projected at least 5.5% GDP growth for 2025, though he characterized this as "not particularly ambitious." In a recent Al-Jazeera interview, he noted the government continues seeking additional drivers of economic expansion.Kazakhstan's economy grew by an estimated 6% year-on-year in January-May 2024, following 4.8% growth in 2023 and 5.1% expansion in 2022. (ICE ALMATY)

Fonte notizia: INTERFAX