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Kazakhstan’s real GDP will grow by 5% - 6.5% during 2013-2015, in particular owing to the increase in oil production with the start of operation of Kashagan oil field. Thus the country becomes a leader in terms of economic growth in the region we analyze. While the banking system still continues to struggle with high non-performing loans, the government has decided to significantly decrease its support to the sector. At the same time, the government plans to drastically change the landscape of the pension funds sector by nationalising existing private pension funds and merging their assets into one state pension fund responsible for compulsory pension pillar.
|Main Economic Indicators||2010||2011||2012||2013||2014||2015|
|Population, 1000 persons.||16322||16557||16791||.||.||.|
|GDP, real change in %||7.3||7.5||5.0||5.0||6.0||6.5|
|GDP per capita (EUR at PPP)||9700||10400||11000||.||.||.|
|Gross industrial production, real change in %||9.6||3.8||0.7||.||.||.|
|Unemployment rate - LFS, in %, average||5.8||5.4||5.3||5.0||5.0||5.0|
|Average gross monthly wages, EUR||397||441||528||.||.||.|
|Consumer prices, % p.a.||7.1||8.3||5.2||7.0||6.5||6.0|
|Fiscal balance in % of GDP||-2.4||-2.1||-2.9||.||.||.|
|Public debt in % of GDP||14.4||11.8||12.6||.||.||.|
|Current account in % of GDP||0.9||5.4||0.3||1.1||1.9||2.0|
|FDI inflow, EUR mn||5615||9878||10650||.||.||.|
|Gross external debt in % of GDP||80.1||71.8||65.2||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Kazakhstan: Strong growth and structural reforms
in: Animal Spirits still Dimmed: Slow Recovery Expected
wiiw Current Analyses and Forecasts No. 12, July 2013 , pp. 127-130 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 Details