Kazakhstan targets GDP doubling, focusing on Middle Corridor

Kazakhstan plans to double its GDP, including through the development of the Trans-Caspian International Transport Corridor (TITR or Middle Corridor), said the Minister of National Economy, World Bank Governor from Kazakhstan Alibek Kuantyrov at the meeting of the founders of the Swiss subgroup of the World Bank in Marrakecs (Morocco), Trend.az reports. 

Kuantyrov noted the effectiveness of the partnership between the WB and Kazakhstan, including through the Partnership Framework Strategy until 2025.

In addition, the minister spoke about the economic plans of Kazakhstan.

"We plan to maintain economic growth at 5 percent this year and double GDP by 2030. This will be achieved through the development of infrastructure, small and medium-sized businesses, a significant reduction in the shadow economy and the development of the Trans-Caspian international transport route. Local authorities will be given greater budget and revenue powers," he added.

The Middle Corridor is a transportation and trade route that connects Asia and Europe, passing through several countries in the region. It is an alternative route to the traditional Northern Corridor and Southern Corridor. The route starts in China and crosses Central Asian countries such as Kazakhstan, Uzbekistan, and Turkmenistan. It then passes through the Caspian Sea, Azerbaijan, Georgia, and Türkiye before reaching Europe. The Middle Corridor offers a land route that connects the eastern parts of Asia, including China, with Europe, bypassing the longer maritime routes.