According to a National Bank survey, Kazakhstan’s economic growth has slowed while inflation remains stable
The National Bank of Kazakhstan released its latest macroeconomic survey on Aug. 21, revealing key forecasts and expectations from expert respondents. The survey, which includes insights from professional market participants, research institutes, international organizations, and rating agencies, highlighted several important trends for Kazakhstan’s economy.
According to a National Bank survey, Kazakhstan's economic growth is expected to slow, with forecasts predicting 4.0% growth in 2024 and 4.4% in 2026, while inflation is projected to be 8.0% in 2024, gradually decreasing to 6.0% by 2026.
Brent crude oil prices are anticipated to average $83.5 per barrel in 2024, declining to $80 per barrel for 2025-2026. The base rate is expected to rise to 14.5% in 2024 and 11.9% in 2025, stabilizing in 2026.
Export forecasts have been increased to $89.6 billion for 2024 but decrease in subsequent years, while imports are expected to rise to $74.1 billion in 2024. The tenge is projected to weaken, averaging 461.2 per U.S. dollar in 2024 and declining further in the following years.
The survey provides insights into market expectations but does not represent the National Bank’s official forecasts.(Source:astanatimes)
