In 2016, GDP growth will slow down still further to 1% as global oil prices are expected to be lower than the 2015 average. Growth is projected to pick up speed in 2017-2018, primarily thanks to a rise in investment. Poor performance in the oil sector has put a strain on public finance and the government has had to adopt various fiscal consolidation measures. Tight monetary policy and dollarisation of deposits has squeezed liquidity in the banking sector, thus giving rise to a credit crunch.
|Main Economic Indicators||2013||2014||2015||2016||2017||2018|
|Population, 1000 persons.||17035||17289||17544||.||.||.|
|GDP, real change in %||5.8||4.1||1.2||1.0||2.5||3.5|
|GDP per capita (EUR at PPP)||18200||19000||19600||.||.||.|
|Gross industrial production, real change in %||2.5||0.3||-1.6||.||.||.|
|Unemployment rate - LFS, in %, average||5.2||5.0||5.0||5.2||5.0||5.0|
|Average gross monthly wages, EUR||540||508||510||.||.||.|
|Consumer prices, % p.a.||5.8||6.7||6.6||12.0||7.0||6.0|
|Fiscal balance in % of GDP||-1.9||-2.7||-2.2||.||.||.|
|Public debt in % of GDP||12.2||14.2||22.8||.||.||.|
|Current account in % of GDP||0.5||2.8||-3.2||-3.2||-2.9||-2.6|
|FDI inflow, EUR mn||7536||5336||5967||.||.||.|
|Gross external debt in % of GDP||59.5||75.6||84.4||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
KAZAKHSTAN: Switching to the crisis mode
in: Growth Stabilises: Investment a Major Driver, Except in Countries Plagued by Recession
wiiw Forecast Report No. Spring 2016, March 2016 , pp. 83-86 Details and Buy
Monthly Report No. 12/2015
Amat Adarov, Peter Havlik, Gabor Hunya, Leon Podkaminer and Roman Römisch
wiiw Monthly Report No. 12, December 2015
50 pages including 18 Figures