National Economy Minister shares revised economic forecast
NUR-SULTAN. KAZINFORM – Minister of National Economy Alibek Kuantyrov revealed Tuesday the revised economic forecast for Kazakhstan, Kazinform correspondent reports.
While addressing the traditional Government’s session earlier this morning, Minister Kuantyrov said the economic projections for Kazakhstan had been revised given the situation in foreign economy, global economic prospects and oil market trends.
According to him, since early 2022 Kazakhstan’s economy has been demonstrating positive dynamics. The country’s GDP has grown 3.5 percent in January-February 2022, he added.
In his report Minister Kuantyrov noted that S&P Global Ratings had lowered global economic growth forecast from 4,2 to 3,6 percent amid the worsening of geopolitical situation.
Given all the factors, including the projected oil prices, he added that Kazakhstan’s economy is expected to moderate from 3,5 to 2,1 percent. The country’s nominal GDP is estimated at 91,5 trillion tenge, that is 3,5 trillion tenge more than forecasted.