wiiw Forecast Reports
KAZAKHSTAN: Switching to the crisis mode
in: Growth Stabilises: Investment a Major Driver, Except in Countries Plagued by Recession
wiiw Forecast Report No. Spring 2016, March 2016 , pp. 83-86
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In 2016, GDP growth in Kazakhstan will slow down still further to 1% as the global oil prices are expected to be lower than they were on average in 2015. Growth is expected to pick up speed in the period 2017-2018, primarily on the back of a rise in investment. Poor performance in the oil sector has put a strain on public finance and the government has had to adopt various fiscal consolidation measures. Tight monetary policy and dollarisation of deposits has squeezed liquidity in the banking sector, thus giving rise to a credit crunch.
Countries covered: Kazakhstan