wiiw Current Analyses and Forecasts
Kazakhstan: On track of steady recovery
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in: Will Exports Prevail over Austerity?
wiiw Current Analyses and Forecasts No. 6, July 2010 , pp. 130-133
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Kazakhstan's economy is expected to grow by 3% in 2010; growth will speed up to 5% in 2011 only to slow down somewhat to 4.5% in 2012.
The oil sector will continue to be the main source of growth.
Internal demand, however, will gain in importance owing to rapidly rising wages in the wake of economic revival and an increase in public wages and social expenditures envisaged by the government.
In 2010, the Kazakh banks will still be licking their wounds; there will be no significant revival in credit market activity.
Over the period 2011-2012, the loans market will start growing again, albeit not at as high a rate as prior to 2008.
The oil sector will continue to be the main source of growth.
Internal demand, however, will gain in importance owing to rapidly rising wages in the wake of economic revival and an increase in public wages and social expenditures envisaged by the government.
In 2010, the Kazakh banks will still be licking their wounds; there will be no significant revival in credit market activity.
Over the period 2011-2012, the loans market will start growing again, albeit not at as high a rate as prior to 2008.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Kazakhstan