BAKU, Azerbaijan, February 9. Dutch ING (Internationale Nederlanden Groep) has predicted that Kazakhstan's gross domestic product (GDP) is to expand in the next three years with a growth of 3.8 percent forecasted in 2023, Trend reports, citing ING.
The growth is forecasted to continue in 2024 and 2025 with 3.5 and 3.0 percent respectively, which places the average annual growth at 3.4 percent level in the next three years.
Consequently, the GDP projection remained unchanged compared to the earlier estimates put forward at the end of 2022.
ING expects Kazakh economy to grow by 3.5 percent in 1Q2023, which will be followed by a growth of 4 percent in 2Q2023.
Meanwhile, the growth in the remaining two quarters of the current year will reach 4.1 percent each.
The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services.
