The World Bank's latest monthly update on Kazakhstan details the nation's economic performance
The World Bank has published its monthly economic update for Kazakhstan for April, covering trends in economic activity, inflation, bank lending, and budget spending.
Kazakhstan's real GDP growth slowed to 3.9% year-on-year and 0.9% quarter-on-quarter in Q1, mainly due to reduced investments and fiscal spending. Inflation dropped from 9.1% in March to 8.7% in April, with service inflation rising to 13.5%. Household loan growth was strong, while firm credit demand remained low.
Government revenue slightly declined by 0.9% to $12.7 billion, with non-oil receipts up 3.1%. Government spending rose by 5.1% to $12.6 billion, driven by increased debt servicing costs, reducing the fiscal surplus to nearly zero.(Source:astanatimes)
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