Kazakh PM Serik Akhmetov confirms that GDP growth is expected at 6% this year, despite global slowdown and a decline in the key sectors of the Kazakhstan's economy - metals and mining industry. GDP expanded by 5% in Jan-May. However, the PM believes that measures aimed to stimulate domestic market and the existing potential in the development of infrastructure, agriculture, construction and transportation will help to withstand recession and bring economic growth up 6%.
Kazakhstan's GDP expanded by 5% last year. International financial institutions expect Kazakhstan's economy to expand by around 5% this year (IMF - 5.25%, Moody's - 5%). This level of growth mainly depends on Kashagan field which is about to launch oil production in September.
The International Monetary Fund (IMF) projects real GDP growth of 3.1% this year and 5.6% in 2025 for Kazakhstan in its newly released ... more
Lukoil is expanding its oil and gas operations in Kazakhstan, the Moscow-based Kommersant newspaper reported on April 8, amid limited overseas opportunities for the company because of Russia’s ... more
Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more