Kazakh NB predicts slowdown in inflation by end of 2023

Deputy Chairman of the National Bank of Kazakhstan Akylzhan Baymagambetov announced a forecast for reducing inflation in 2023, El.kz reports.

"Inflation, according to our forecasts, by the end of 2023 will slow down from current levels to 7.5-9.5% against the background of decisions on the base rate, the countercyclical budget rule planned for implementation, the gradual reduction of external inflationary pressure and the withdrawal from the calculations of the high base of the current year," Akylzhan Baymagambetov said at a government meeting.

According to him, the next forecast round is currently being held in the National Bank, the results of which will be announced on September 5 of this year.

 "In the absence of new shocks in the medium term, inflation will approach the target corridor by the end of 2024," the representative of the National Bank added.