World Bank analysts presented their outlook for countries' growth in the latest Global Economic Prospects report. Kazakhstan's GDP will amount to 3.5 percent in 2023, and to four percent in 2024. This indicator is 0.5 percent less compared to summer projections, and 0.5 percent more than expected, respectively. Overall, Europe and Central Asia are estimated to experience a slight slowdown in regional economic growth in 2023. However, next year the figures are expected to rise again up to 2.8 percent. The economic downturn in the region has proved less severe than originally anticipated, the analysts note. The situation was improved by increased production, tourism recovery, government measures to protect the population and businesses from rising food and energy prices. As a whole, the global economy will grow by 1.7 percent in 2023. The World Bank downgraded its outlook for most advanced economies and nearly 70 percent of emerging-market and developing economies.
