The drop in global oil prices and depreciation of the Russian rouble has led to deterioration in Kazakhstan’s economic outlook. In 2015, growth will slow down to 2%, the lowest level since 2009. In the biennium 2016-2017, GDP growth will revive, rising to 3.5% and 4.5%, respectively. The National Bank is likely to embark on a gradual devaluation of the tenge vis-à-vis the US dollar; estimates hint at a figure of by about 15% by the end of 2015.

map Kazakhstan
Main Economic Indicators201220132014201520162017
Population, 1000 persons.167911703517289...
GDP, real change in %
GDP per capita (EUR at PPP)168001740018300...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average5.
Average gross monthly wages, EUR528540506...
Consumer prices, % p.a.
Fiscal balance in % of GDP-2.9-2.0-2.8...
Public debt in % of GDP13.012.914.9...
Current account in % of GDP0.50.42.1-4.0-1.60.2
FDI inflow, EUR mn1061874885718...
Gross external debt in % of GDP65.162.579.4...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


KAZAKHSTAN: Waiting for devaluation

Olga Pindyuk
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 113-116
Details and Buy


Monthly Report No. 11/2013

Vasily Astrov, Vladimir Gligorov, Peter Havlik, Mario Holzner and Olga Pindyuk
wiiw Monthly Report No. 11, November 2013
38 pages including 17 Tables