ALMATY, Feb. 28 (Xinhua) -- The European Bank for Reconstruction and Development (EBRD) has revised its Kazakhstan GDP growth forecast for 2025 downward to 5.2 percent, with a further slowdown to 4.5 percent in 2026, the Interfax news agency reported on Friday, citing the bank's latest Regional Economic Prospects report.

In September 2024, the EBRD projected a 5.5 percent growth rate for 2025.

Economic growth is expected to stand at 5.2 percent in 2025, supported by the planned expansion of the Tengiz oil field, before moderating to 4.5 percent in 2026, the report stated.

Meanwhile, the bank upgraded its 2024 GDP growth estimate for Kazakhstan from 4 percent to 4.5 percent. According to Kazakh Prime Minister Olzhas Bektenov, the country's economy expanded by 4.8 percent in 2024.

Kazakhstan's government forecasts 5.6 percent GDP growth in 2025, with an average annual growth rate of 5.4 percent over the next five years.

For comparison, the World Bank projects Kazakhstan's GDP will grow by 4.7 percent in 2025 and 3.5 percent in 2026. Enditem

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