IMF Forecast: Kazakhstan to Lead Region in GDP Per Capita by 2025
Photo: Elements.envato.com, ill purposes
By the end of 2025, Kazakhstan is projected to surpass Russia, China, and other Central Asian countries in gross domestic product (GDP) per capita, according to the International Monetary Fund, Orda.kz reports.
The IMF estimates Kazakhstan’s GDP per capita will reach $14,770, exceeding Russia’s $14,260 and China’s $13,690. Among Central Asian neighbors, Kazakhstan will also outpace Uzbekistan ($3,510), Kyrgyzstan ($2,750), and Turkmenistan ($13,340).
The figure is above the global average of $14,210, but still about four times lower than the average for developed nations ($60,320).
The IMF noted these are forecasted values that may change. Earlier, it lowered its projection for Russia’s 2025 economic growth from 1.5% to 0.9%, while keeping Kazakhstan’s growth forecast at 5%.
Original Author: Nikita Drobny
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