Kazakhstan's real GDP growth to rise to 3.9% in 2022 – National Ministry

NUR-SULTAN. KAZINFORM – The real growth of Kazakhstan’s GDP is predicted at 3.9% in 2022, Kazakh national Minister Asset Irgaliyev told a government session, Kazinform correspondent reports.

«The average GDP growth is predicted at 4.8% under a baseline scenario, 5% under an optimistic scenario, and 5% under a pessimistic scenario,» said Irgaliyev.

He went on to note that under a baseline scenario the real GDP growth is to stand at 3.9% in 2022, and will accelerate to 5.2% in 2026. Nominal gross output is to stand at KZT87trl in 2022, KZT119trl in 2026.

According to him, the country will produce 87.9 million tons of oil in 2022, increasing to 107.4 million tons by 2026. The country’s export volume is to hit $60bn in 2022 and $79.8bn in 2026. Imports are to rise from $40bn in 2022 to $43bn in 2026. Trade balance is estimated to rise from $19.3bn to $36bn.

In his words, given the prediction the national budget revenue is to rise to KZT9.2tln in 2022, KZT9.7tln in 2023, and KZT10tln in 2024.