EDB forecasts Kazakhstan’s economy to grow by 4%

Experts of the Eurasian Development Bank still expect Kazakhstan’s economy to grow by 4 percent. This will be facilitated by the recovery of the global economy and the rise in oil prices. Production in the country is expected to return to pre-crisis levels this year, as the easing of quarantine restrictions positively affects consumer demand that is constantly increasing. At the same time, there still will be difficulties in the transport and logistics sphere and tourism amid the uneven lifting of restrictions on movement. The EDB’s report outlines that the construction sector will develop at the fastest pace, which will become the main driver of economic growth. A new bank’s review notes that Kazakhstan’s economy will grow by 4.4 percent in 2022, and in 2023 its growth will speed up to 5 percent. By the end of this year, inflation will be fixed at 6.7 percent. Then it will slow down to 5.7 percent in 2022.

Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova