wiiw Forecast Reports
KAZAKHSTAN: Economic growth loses pace
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in: On Thin Ice: CESEE Core Resilient in the Face of EU Stagnation and the Ukraine Crisis
wiiw Forecast Report No. Autumn 2014, November 2014 , pp. 113-115
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KAZAKHSTAN
Kazakhstan’s economic growth will drop to an annual rate of 4.5-5% over the period 2014-2016 owing to the delay in the launch of the Kashagan oil field and weaker external demand. The recent devaluation of the national currency appears to have had a net negative impact on the country’s economy, while the improvement in the current account balance will be only temporary. The banking sector in Kazakhstan continues to struggle with an excessive number of non-performing loans.
Kazakhstan’s economic growth will drop to an annual rate of 4.5-5% over the period 2014-2016 owing to the delay in the launch of the Kashagan oil field and weaker external demand. The recent devaluation of the national currency appears to have had a net negative impact on the country’s economy, while the improvement in the current account balance will be only temporary. The banking sector in Kazakhstan continues to struggle with an excessive number of non-performing loans.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Kazakhstan