Kazakhstan’s GDP Projected to Grow 4.4% in 2025: Experts

Experts from the Association of Financiers of Kazakhstan predict that the country’s GDP will grow by 4.4% in 2025.

Amid the stagnant oil production and low raw material prices this year’s economic growth is to be below last year’s figure of 5.1% and the growth target of 6%. However, the country’s GDP growth could surpass the 4% figure (4.1% for January-September) thanks to a growth of over 6% in trade, communication, transport, construction and agriculture, which are supported by additional transfers from the National Fund, reads a report of the Association of Financiers of Kazakhstan, The Caspian Post reports, citing Kazakh media.

The report highlighted that the planned increase in raw material production (up to 97.2 million tons), realization of major infrastructure projects and high budgetary expenditures (33.5 trillion tenge in 2025) may outweigh the negative impact of low prices for raw materials and high interest rates.

Experts of the financial market forecast the GDP to growth at 4.4% in 2025, reads the report.