International Business News – Kazakhstan’s exports are expected to reach $84.6 billion and imports $53.5 billion by 2027, KTA news agency said.
Using the baseline scenario as the basis for the budget plan, real GDP growth is expected to accelerate to 4.2% in 2027 from 4.0% in 2023, Kazakhstan’s Minister of Economy Alibek Kuantirov said at the regular government working meeting on the 27th. Nominal GDP will increase to 176.6 trillion tenge from 120.7 trillion tenge. All basic sectors of the economy are expected to achieve positive growth.
Alibek Kuantirov said that industry is expected to grow at an average annual rate of 3.1%, with the processing industry – 3.5% and mining – 2.9%. Total agricultural output is expected to grow at an average annual rate of 3.9%.
Oil production will reach 92.6 million tons in 2023 and increase to 99.9 million tons in 2027, according to the ministry’s forecast.
According to Alibek Kuantirov, the Central Bank forecasts that exports will increase from $80.9 billion to $84.6 billion and imports from $45.7 billion to $53.5 billion.