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
Main Economic Indicators201220132014201520162017
Population, 1000 persons.167911703517289...
GDP, real change in %
GDP per capita (EUR at PPP)166001750018300...
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 GDP13.012.914.8...
Current account in % of GDP0.50.42.8-3.1-2.9-2.4
FDI inflow, EUR mn1061875365306...
Gross external debt in % of GDP65.162.578.9...

Basic data are continuously updated.

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


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


Monthly Report No. 7-8/2015

Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8,
25 pages including 1 Table and 2 Figures