Kazakhstan: Experts Change Inflation Outlook

Economic experts have worsened their forecast for Kazakhstan's inflation rate in 2025. Analysts' expectations for 2024 remain the same, Orda.kz reports.

The National Bank has published the results of an expert survey. Experts regularly provide macroeconomic indicator projections. Analysts assessed Kazakhstan's economic growth prospects, inflation level, oil prices, base rate, tenge exchange rate, and export and import volumes. 

Analysts have changed their inflation forecasts for 2025 from 6.7% to 6.9%. Expectations for 2024 and 2026 remain the same - at 8.4% and 6.0%, respectively,
notes the National Bank.

The economic growth outlook has been adjusted from 5 percent to 4.7%. 

Experts believe the country's GDP will grow by 4.2% by the end of 2024. The forecast for the base rate has been revised upward: earlier, analysts expected that it would be reduced to 12% in 2025; now, they think it will be no more than 12.5%.

Original Author: Nikita Drobny