Kazakhstan’s GDP growth in 2024-25 is driven by unprecedented government spending. This year, the government is forecasting GDP growth of 7%, which is significantly higher than in the world’s most powerful economies, such as China.
Economist Rakhimbek Abdrakhmanov believes that Kazakhstan’s GDP growth is nominal, “on paper.” This isn’t due to increased labor productivity, the emergence of new industrial enterprises, or technological development. It’s simply that government investment in various projects has increased significantly, although these projects are simply expenses and don’t translate into real GDP growth.
Video from the “GYPERBOREY” channel.
