Kazakhstan’s GDP growth to reach 5.6% in 2025

The country’s economy is projected to grow by 5.6% in 2025, Kazinform News Agency quotes Kazakh National Economy Minister Nurlan Baibazarov as saying.

The global economic growth is expected at 3.3% of GDP in 2025, oil prices are predicted to average 78 US dollars per barrel.

The Ministry reviewed three different development scenarios: base case, optimistic and pessimistic. The base case scenario expects oil prices to average 75 US dollars per barrel. The real GDP growth is supposed to stand at 5.6% and the annual average for five years at 5.4%. The inflation rate is expected to reach the 5.5% - 7.5% range in 2025.

The nominal GDP is predicted to rise from 150.8 trillion tenge in 2025 to 234.2 trillion tenge or 498.4 billion US dollars in 2029 to make the country's economy double in size, he added.