The Asian Development Bank
upgraded Kazakhstan’s economic growth forecast to 4.5 percent for the current
year from the earlier projection of four percent in September. The forecast for
2024 stands at 4.3 percent. Among the economic risks for Kazakhstan and
countries in Central Asia and the Caucasus, ADB noted high interest rates in
the U.S. and other developed countries. These rates may divert investors away
from emerging markets, exerting pressure on their national currencies.
Additionally, disruptions in global supply chains due to geopolitical factors
were also mentioned. It is worth reminding that in October, the International
Monetary Fund also projected a 4.6 percent economic growth for Kazakhstan.
