EDB: Kazakhstan’s GDP to grow by 4%

inbusiness.kz

Kazakhstan’s economy will grow by 4 percent this year, experts from the Eurasian Development Bank predict. In their opinion, the easing of quarantine restrictions, as well as the state’s anti-crisis support, will have a beneficial effect on the recovery of economic activity in the country. Overall, in 2021, the pace of global economic recovery is very optimistic and may reach 6 percent, experts say. However, the global rise in energy and food prices generates large inflationary risks. Global inflation rate is approaching 4 percent per year.

“All these inputs create a certain landscape for economic performance in Kazakhstan as well. The recovery rates in Kazakhstan are also strong. Kazakhstan’s economy is expected to grow by about 4 percent by the end of 2021. At the same time, inflationary risks are indeed growing. Given that world food prices are starting to slightly slow down, we believe that the current level of the base rate at 9 percent allows maintaining a balance between the dynamics of economic growth and inflationary risks,” said Nikolai Podguzov, chairperson, Eurasian Development Bank.

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