wiiw Forecast Reports

KAZAKHSTAN: Waiting for devaluation

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in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, , pp. 113-116

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KAZAKHSTAN
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.

 

Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Kazakhstan


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