Kazakhstan’s GDP growth may accelerate to 4.2% in 2023

The inflation rate in Kazakhstan will slow down from 19 percent in early 2023 to 8 percent by the end of the year. Experts of the Eurasian Development Bank presented a new macroeconomic forecast for the EAEU countries. Kazakhstan’s economy will grow by 4.2 percent next year, experts note. The growth in 2023 may amount to 2.8 percent, which is quite a strong performance given the current conditions, analysts of the financial institute say. The commissioning of new deposits at the Tengiz field, the transition of the Caspian Pipeline Consortium to full capacity, the implementation of a number of national projects in the manufacturing industry, construction and services may become the key driver of the economy’s growth for next year.