Kazakhstan improves its macroeconomic balance in 2023 - National Bank

Kazakhstan improves its macroeconomic balance in 2023 - National Bank
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Despite the slowdown in global economic activity in 2023, Kazakhstan managed to improve its macroeconomic balance, Governor of the National Bank Timur Suleimenov, said at the Senate’s plenary session, Kazinform News Agency correspondent reports.

“Despite the slowdown in global economic activity in 2023, Kazakhstan managed to improve its macroeconomic balance, supporting economic growth and, at the same time, significantly reducing inflation,” Timur Suleimenov said, reporting to the Senate on the national budget utilization in 2023.

Timur Suleimenov also noted that in 2023 the macroeconomic situation in the world was affected by enduring uncertainty due to geopolitical conflicts and weak growth in trade and investment.

“As per the IMF estimates, the world’s economic activity slowed down to 3.2% from 3.5% a year earlier. Global trade growth slowed to 0.3% due to restrictions on global trade amid armed conflicts and geopolitical tensions. Global foreign direct investment increased slightly by 3% having made $1.4 trillion,” said Timur Suleimenov.

At the same time, in his words, in 2023, global inflation dropped to 6.8% from 8.7% a year before.

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