ADB forecasts Kazakhstan’s stable economic growth
The Asian Development Bank (ADB) has revised its economic growth forecast for Kazakhstan upwards. Financial analysts have projected that the country’s GDP will rise to 4.1 percent in 2023 and 4.3 percent in 2024. Experts attribute this to growth in consumption and higher government expenditures, including on infrastructure modernization and social programs. Inflation is expected to continue its downward trend. According to forecasts, it will amount to 7.6 percent next year. As for other Central Asian countries, the situation is also looking positive. The ADB predicts that the region's economy will grow by over 4.5 percent. This upward revision takes into account domestic demand, which exceeded expectations in Kazakhstan, Tajikistan, Uzbekistan, and other countries. It reflects active tourist arrivals, fiscal stimulus, monetary easing, and increased domestic money transfers.