2023-12-28 13:09News

IMF World Economic Outlook: Kazakhstan Leads in GDP Growth Among Central Asian, CIS States

#kazakhstanPhoto credit: IMF

Kazakhstan occupies a leading position in terms of gross domestic product (GDP) among the countries of Central Asia and the Commonwealth of Independent States (CIS), reported Finprom financial and business analytical service on Dec. 25, referring to the International Monetary Fund’s (IMF) World Economic Outlook released in October.

According to IMF estimates, this year’s GDP volume in current prices in Kazakhstan is expected to reach $259.3 billion – 15% more than in 2022, the largest increase in the region.

Kazakhstan’s GDP exceeds the GDP of Armenia, Belarus, Georgia, the Kyrgyz Republic, Moldova, Tajikistan and Uzbekistan combined.

The IMF predicts that Kazakhstan's GDP will reach $354.7 billion by 2028, which is 36.8%, or $95.4 billion, more in value than this year. This is also the most significant indicator among the region's countries, except for Russia. 

Kazakh President Kassym-Jomart Tokayev set a more ambitious task for the country’s government, which was to double the size of the national economy to $450 billion by 2029. According to Finprom, this will be possible with stable economic growth of at least 6% per year, and an essential role in achieving this strategic goal is given to implementing projects in the manufacturing industry. 

About the Embassy

The Embassy of the Republic of Kazakhstan in the Kingdom of Sweden and in the Kingdom of Denmark was opened on March 8, 2014 by direct decree of the President of the Republic of Kazakhstan with a view to strengthening diplomatic relations. The site is introduced to keep the wide public informed on activity of the diplomatic mission in Sweden, and to provide information support for the citizens of Kazakhstan who live in Sweden and foreigners who are going to visit Kazakhstan as tourists or businessmen.


Aibek Yessey
Aibek Yessey
The Embassy of the Republic of Kazakhstan