BAKU, Azerbaijan, June 8. Real GDP growth of Kazakhstan will amount to 2 percent in 2022, the forecast published by the World Bank (WB) said, Trend reports.
The WB noted that the updated forecast is 1.7 percent lower than the one published in January 2022.
WB also decreased it’s forecast for Kazakhstan’s 2023 GDP growth. Thus, the current report forecasts growth of 4 percent, which is 0.8 percent less than the projections made in January 2022.
The forecast for 2024 stands at 3.5 percent of real GDP growth for Kazakhstan.
Regional output in Europe and Central Asia overall is forecast to contract around 3 percent in 2022, reflecting a deep recession in Russia and steep economic contraction in Ukraine, with most other regional economies expected to grow at a weakened pace. An escalation of the situation in Ukraine could worsen the outlook.