In 2022, the economy of Kazakhstan will grow by 1.8 percent, and in 2023 by 4 percent, predicted the World Bank. Previously, the international financial institution estimated that Kazakhstan’s GDP growth was expected to reach 3.7 percent this year and 4.8 percent next year. According to the World Bank analysts, the slowdown will be caused by the “side effects of Russia's economic collapse.” It is noted that disruptions in trade, lower business confidence and increased currency volatility will also lower economic growth. Meanwhile, the Kazakh government forecasts that by the end of 2022, Kazakhstan’s GDP will grow by 2.1 percent.
Translation by Assem Zhanmukhanova
Editing by Galiya Khassenkhanova
