EFSD lowers 2026 GDP forecast for Kazakhstan, improves inflation outlookThe Eurasian Fund for Stabilization and Development (EFSD) has lowered its 2026 GDP growth forecast for Kazakhstan to 5%, citing disruptions in oil production at the Tengiz field, according to the fund's July macroeconomic outlook for member states.In its April forecast, the EFSD had expected Kazakhstan's GDP to grow 5.2% in 2026.However, the fund improved its 2027 GDP forecast for Kazakhstan to 4.6% (up from 4.3% in July) and maintained its 2028 forecast at 4.2%.The EFSD said the 2026 outlook was slightly downgraded due to the temporary suspension of production at Tengiz earlier this year, a factor offset by strong growth in non-resource sectors. The 2027 forecast was raised on expectations of recovering oil output and rising investment activity in the quasi-public sector.The fund now expects inflation to end the year at 9.8%, down from its previous forecast of 10.1%, reflecting faster price deceleration. Inflation forecasts for 2027 were also improved to 8.1% (from 8.9%) and for 2028 to 7% (from 7.8%).The EFSD attributed the slowdown in inflation to a moratorium on fuel price and utility tariff hikes, an expanded list of staple foods, a stronger tenge earlier in the year, and measures to curb consumer lending.Kazakhstan's GDP grew 6.5% in 2025, 3% in January-March 2026, 3.6% in January-April and 3.7% in January-May. The prime minister earlier instructed the government to ensure sustainable economic growth above 5% in 2026.In June of this year, annual inflation slowed to 10.3%. (ICE ALMATY)

Fonte notizia: INTERFAX