Kazakhstan

Increasing costs of keeping the KZT/USD exchange rate within the given band forced the government to switch to a floating currency regime, as a result of which the tenge depreciated by about 50%. A substantial weakening in external demand and sluggish domestic private consumption and investment will limit GDP growth to 1.5% in 2015. In 2016-2017, growth is expected to accelerate to 2.5% and 3.5%, respectively, since fiscal stimuli are expected to boost investment, while exports will gradually recover.

map Kazakhstan
        FORECAST*
Main Economic Indicators201320142015201620172018
Population, 1000 persons.170351728917544...
GDP, real change in %5.84.11.22.53.5.
GDP per capita (EUR at PPP)1750018300....
Gross industrial production, real change in %2.50.3-1.6...
Unemployment rate - LFS, in %, average5.25.05.05.05.0.
Average gross monthly wages, EUR540506510...
Consumer prices, % p.a.5.86.76.68.05.0.
Fiscal balance in % of GDP-1.9-2.7-2.3...
Public debt in % of GDP12.214.223.3...
Current account in % of GDP0.42.6-3.4-2.9-2.4.
FDI inflow, EUR mn753653066300...
Gross external debt in % of GDP59.575.698.3...


Basic data are continuously updated.

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

publication_icon

Monthly Report No. 12/2015

Amat Adarov, Peter Havlik, Gabor Hunya, Leon Podkaminer and Roman Römisch
wiiw Monthly Report No. 12,
50 pages including 18 Figures

Details

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KAZAKHSTAN: Tenge set freely floating as economic growth stumbles

Olga Pindyuk
in: Mixed Prospects: Consumption Leads Fragile Recovery in the CESEE Core – CIS Stumbles
wiiw Forecast Report No. Autumn 2015, , pp. 84-87
Details and Buy


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