Kazakhstan's GDP grew 6.5% in Jan-Aug  Kazakhstan’s economy increased by 6.5% in the January-August 2025, the Ministry of National Economy said in a press release.“The growth was primarily driven by positive trends in trade, industry and the communications sector,” the press release says.In the first eight months of this year, industrial output increased by 7.6%. Manufacturing rose by 6.5% compared to the same period in 2024. Significant growth was recorded in machine building (up 15.1%), food production (up 10.1%), oil refining (up 7.6%), chemical industry (up 7.5%) and metallurgy (up 1.1%).Trade grew by 8.9%, mainly due to the wholesale segment, which accounts for 66.6% of the sector. The highest growth rates were recorded in Shymkent (up 21.3%), East Kazakhstan (up 5.7%) and Zhetysu (up 0.6%) regions.The National Bank revised its GDP growth forecast for 2025 to 5.5-6.5%, up from a previous projection of 5-6%. The forecast was revised due to high current economic growth rates, high investment activity and sustained consumer demand.The GDP forecast for 2026 remains at 4-5%. Growth in 2026 is expected to be supported by continued expansion in the oil sector and investment activity. From 2027, GDP growth rates are expected to trend towards an equilibrium level according to the current forecast.President Kassym-Jomart Tokayev previously stated that the economy would grow by at least 5.5% in 2025. He noted that the government is looking for drivers for economic growth.Kazakhstan's GDP growth was 6.3% in January-July, 4.8% in 2024 and 5.1% in 2023.The International Monetary Fund in late July raised its forecast for Kazakhstan's economic growth in 2025 to 5% from 4.9%. The Asian Development Bank also improved its GDP growth expectations for Kazakhstan this year to 5.1% from 4.9%. The Eurasian Stabilization and Development Fund expects Kazakhstan's GDP growth to be 5% in 2025. The Eurasian Development Bank anticipates Kazakhstan's economic growth at 5.5% in 2025. (ICE ALMATY)

Fonte notizia: Interfax