The World Bank in Kazakhstan

Despite challenges from decreased oil production and supply-chain issues stemming from the country's economic ties with Russia, Kazakhstan recorded 3.2% GDP growth in 2022. Growth was driven by non-oil exports to neighboring countries and investment growth of 7.9%. The economy is expected to see a moderate increase in growth to 3.5% in 2023 and to 4% in 2024, led by the hydrocarbons sector as oil production rises thanks to several new projects.