Kazakhstan’s real GDP growth forecast to be over 3% this year

NUR-SULTAN. KAZINFORM – Kazakh President Kassym-Jomart Tokayev chaired a meeting with the social and economic development forecast for 2023/27, draft republican budget for 2023/25 on the table, Kazinform cites Akorda.

According to figures presented by the Kazakh PM, real GDP growth is predicted to stand at over 3% in 2022, and reach 4% in 2023.

The Head of State pointed out that the balance of the presented social and economic development forecast has been achieved. According to the government, nominal growth of the GDP is forecast from KZT103tln in 2022 to KZT120.7trl in 2023. Tax revenues are predicted to rise from KZT10.5trl to KZT13.5trl in 2023.

Guaranteed transfers from the National Fund are expected to be cut from up to KZT4trl in 2022 to KZT2.2trl in 2023. Non-oil deficit is predicted to decrease from 8.3% to 6.8% in 2023 having a positive effect on the country’s macroeconomic stability.

Tokayev once against drew the government’s attention to the importance to ensure quality planning and distributing funds. In general, the President supported the presented 2023/27 social and economic development forecast and 2023/25 draft republican budget taking into account their refinement following the meeting.

Photo: akorda.kz