Renaissance Capital updates Kazakhstan’s GDP growth forecast

BAKU, Azerbaijan, December 19. The GDP growth
in Kazakhstan accelerated to 2.7 percent year-on-year in 11M22,
amid renewed growth in industrial production, a source in
Renaissance Capital told Trend.

The growth rate in 10M22 constituted 2.5 percent.

The growth is largely attributed to the recovery of oil
production, as well as accelerated trade growth. At the same time,
the growth in agriculture and construction eased moderately.

Renaissance Capital expects the growth to continue at the end of
2022, and next year. The projected GDP growth of the country in
2023 is expected to be 4 percent.

Renaissance Capital is one of the leading investment banks in
emerging frontiers with a special focus on Russia & CIS, Central &
Eastern Europe, Africa, and MENA.

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