Gross Domestic Product (GDP) grew 3.6 percent in January-August this year from a year earlier backed by the growth in the non-oil sector, which grew by 5.7 percent.

GDP is projected to grow 3.5 percent, up from a previous forecast of 3.2 percent, annual inflation will be 8.5 percent, up from 6.5 percent,

The state budget's draft for the next year projects revenues at 26.407 billion manats ($15.534 billion), 8.6 percent up from revenues expected this year, and expenses at 28.974 billion manats, 12 percent up from this year's spending.

Production of oil and condensate was 711,600 bpd in August, down from 717,000 bpd a month earlier and below 718,000 bpd produced in October 2018, when members of OPEC+ agreed to reduce oil production gradually.

The privatisation process was suspended a year ago over the COVID-19 pandemic and officials said earlier this year that they hoped selloffs could raise as much as $430 million.