ADB raises Kazakhstan growth forecast to 5.3% for 2025The Asian Development Bank has upgraded its economic growth forecast for Kazakhstan, projecting expansion of 5.3% in 2025, according to the bank'sreport.The updated outlook, raised from an April forecast of 4.9%, "reflects strong public infrastructure investment and increased resource extraction."The bank also raised its 2026 growth forecast to 4.3% from 4.1%. The revision follows new data showing Kazakhstan's GDP grew by 6.2% year-on-year in the first half of 2025, its strongest performance in a decade. Key drivers included construction, manufacturing, services and agriculture.Despite the robust growth, the ADB warned of persistent inflationary pressures. It expects inflation to reach 10.5% in 2025, citing utility price hikes and a weak tenge, before easing to 8.4% in 2026.The bank also projects imports will continue to outpace exports, leading to a sustained current account deficit. However, it noted "the budget deficit should gradually narrow as higher tax revenues offset rising social and infrastructure spending."The ADB said Kazakhstan's infrastructure modernization program and a new tax code will provide further support for the nation's economic resilience.The European Bank for Reconstruction and Development also improved its 2025 GDP growth forecast for Kazakhstan to 5.7%, while maintaining its 2026 projection of 4.5%. The EBRD had previously forecasted 4.9% growth for 2025 in May.According to earlier reports, Kazakhstan's economy grew by 6.5% in the January-August period of 2025. The country's GDP expanded by 4.8% in 2024. The National Bank of Kazakhstan forecasts 2025 GDP growth in the range of 5.5% to 6.5%.The International Monetary Fund in late July raised its 2025 economic growth forecast for Kazakhstan from 4.9% to 5%. The Eurasian Fund for Stabilization and Development expects Kazakhstan's GDP growth to reach 5% in 2025, while the Eurasian Development Bank projects economic growth of 5.5% for the year. (ICE ALMATY)

Fonte notizia: INTERFAX