IMF projects Kazakhstan’s 2024 GDP growth at nearly 4%

IMF projects Kazakhstan’s 2024 GDP growth at nearly 4%

Kazakhstan’s economy is demonstrating positive changes, according to the International Monetary Fund (IMF). Forecasts indicate that the country’s GDP growth in 2024 will be nearly four percent. The IMF also praised the measures to reduce inflation, which continues to decline, standing at 8.4 percent in August. Nicolas Blancher, the head of the IMF mission for Kazakhstan, noted at a press conference in Astana that decisive reforms are necessary to achieve more ambitious goals.

«We think elimination of a number of tax exemptions is important, and raising the value-added tax rate level is also important for us. And so, we will look forward to the discussions, which are going to happen in Parliament, and we will be supportive of the authorities in those areas to accelerate those reforms. Because, as you know, the Tax Code approval has been delayed to 2025,» Blancher said.