World Bank forecasts Kazakhstan’s economic growth

World Bank forecasts Kazakhstan’s economic growth

Kazakhstan is expected to experience sustainable economic growth over the coming two years, as stated in a new report by the World Bank. Thus, the country’s real GDP is projected to grow by 4.5–5 percent next year. As noted by experts, this figure can be achieved by expanding production capacities at current oil fields, which will have a positive impact on the export of petroleum products, as well as contribute to the growth of the petrochemical industry in 2025. Additionally, investments in the mining and manufacturing industries will remain stable. The country’s banking system continues to be resilient to the geopolitical situation in the world, the report states. Financial institutions have managed to maintain reliable financing and sufficient liquid assets. According to the World Bank’s assumptions, the inflow of foreign investment will increase predominantly in the mining sector.