EBRD raises Kazakhstan's 2025 GDP growth forecast to 5.7%The European Bank for Reconstruction and Development (EBRD) has upgraded its 2025 GDP growth forecast for Kazakhstan to 5.7%, citing an increase in oil production, according to the bank's latest Regional Economic Prospects report.The bank maintained its 2026 growth projection for the country at 4.5%. The revised 2025 figure is a substantial increase from the 4.9% forecast made in May."Kazakhstan’s real GDP expanded by 6.2 per cent year on year in the first half of 2025, primarily driven by increased oil production at the Tengiz field. Oil production rose by 11.6 per cent year on year in the first six months of the year," according to the report.The EBRD also highlighted a rapid growth in construction that "reached 18.4 per cent year on year in the first half of 2025, supported by major infrastructure initiatives, utility network repairs and residential construction."The report identified key downside risks, including an "over-reliance on Russian infrastructure for oil transit and volatile commodity prices."According to previously released data, Kazakhstan's economy grew by 6.5% in the January-August period of 2025. The country's GDP growth was 4.8% in 2024. The National Bank of Kazakhstan forecasts 2025 growth in a range of 5% to 6.5%.The EBRD's revised outlook follows similar upgrades by other international institutions. The International Monetary Fund (IMF) raised its 2025 forecast for Kazakhstan to 5% in late July, while the Asian Development Bank (ADB) increased its expectation to 5.1%. The Eurasian Stabilization and Development Fund (ESDF) and the Eurasian Development Bank (EDB) project growth of 5% and 5.5%, respectively. (ICE ALMATY)

Fonte notizia: INTERFAX