World institutions predict sharp growth in Kazakhstan’s GDP in 2025

According to a report from the CAREC Institute, in 2024 Kazakhstan’s economic development  slowed down. In the first quarter of 2024, Kazakhstan’s GDP increased only by 3.7% against the last year indicator. By 2025, according to CAREC estimates, this figure will rise to 5.2% - one of the best indicators in the region. Higher rates are demonstrated by Mongolia only.

The Asian Development Bank and the International Monetary Fund are more optimistic offering more favorable forecasts – 5.3% and 5.6% respectively. The World Bank experts are more sceptical with a 4.7% forecast.

CAREC experts recommend that countries focus on trade facilitation and concentrate on attraction of investment and diversification of their exports. This may require technology upgrades to improve competitiveness. They noted that commodity prices remain stable, but trade and information technology are becoming the main drivers of GDP growth.

Gross domestic product, or GDP, is one of the key indicators characterizing the development of any economy.