Kazakhstan targets economic growth doubling

Kazakhstan intends to double its gross domestic product (GDP), especially through the expansion of the Trans-Caspian International Transport Corridor (the Middle Corridor), according to Alibek Kuantyrov, Minister of National Economy.

“The efficacy of the World Bank-Kazakhstan relationship, especially the Partnership Framework Strategy through 2025,” said Kuantyrov.

“We intend to keep economic growth at 5% this year and quadruple GDP by 2030. This will be accomplished by infrastructure development, small and medium-sized company development, a considerable reduction in the shadow economy, and the development of the Trans-Caspian international transport route. Local governments would be given more budgetary and revenue authority,” Kuantyrov stated.

The Trans-Caspian International Transport Corridor (the Middle Corridor) connects Asia and Europe via numerous nations in the area.

It’s a different path from the standard Northern and Southern Corridors. The route begins in China and travels via Kazakhstan, Uzbekistan, and Turkmenistan.

Before reaching Europe, it travels across the Caspian Sea, Azerbaijan, Georgia, and Turkey. The Middle Corridor provides a land route connecting eastern Asia, particularly China, with Europe, skipping longer sea routes.