The ninth largest country in the world - Kazakhstan, has been developing at an enviable pace in recent years. The goals in the 2030 program were reached as early as 2023. Economic growth is there and any other country would envy it. However, that is not the case with inflation in March, it was 10% on an annual basis. For comparison, in February it was 9.4% also on an annual basis.
The main reason for the high inflation rate on an annual basis is the increase in the prices of services - 14.3% in March over the past 12 months. In non-food goods, inflation is 9.1%, and in food products - 7.6%.
The medium-term goals of the National Bank of Kazakhstan are to stabilize inflation at levels no higher than 5%.
The country's economic growth in 2024 is 4.8%. This is an excellent value against the background of the weaker economic growth of EU member states, which is only 1%.