wiiw Forecast Reports
KAZAKHSTAN: Waiting for devaluation
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The drop in global oil prices and the depreciation of the Russian rouble has led to deterioration in Kazakhstan’s economic outlook. In 2015, growth will slow down to 2%, the lowest level since 2009. In the biennium 2016-2017, GDP growth will revive, rising to 3.5% and 4.5%, respectively. The National Bank is likely to embark on a gradual devaluation of the tenge vis-à-vis the US dollar, by about 15% by the end of 2015. A new economic policy known as Nurly Zhol is expected to boost investment in the country over the medium term.
Countries covered: Kazakhstan