Kazakhstan's banks increased the total volume of issued loans by 20.9% by the end of 2024, reports the press service of the Eurasian Development Bank (EDB).
According to EDB research, interest in loans was shown by both businesses and the population.
"The key contribution to this growth was made by the expansion of lending to the population, while loans for entrepreneurial activities added paragraph 6.6. The increase in lending provides an additional boost to domestic consumption, which, in turn, contributes to the expansion of economic activity," the bank's analysts stated.
According to the EDB's analytical service forecast, in 2025, Kazakhstan's GDP growth rate is expected to accelerate to 5.5%. The high growth rates throughout the forecast period will be positively influenced by the government's stimulating fiscal policy, lower interest rates, and increased oil production. Additionally, state programs aimed at regional development and infrastructure construction will have a beneficial impact on GDP growth.
CentralasianLIGHT.org
February 4, 2025