wiiw Forecast Reports

KAZAKHSTAN: Benefiting from higher oil prices


Olga Pindyuk

in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, March 2017 , pp. 77-80

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Higher oil prices allowed for faster economic growth and stabilisation of the exchange rate at the end of 2016. Inflation has slowed and will likely stay within the target range of the national bank. GDP has been growing mainly on the back of investment, while consumer demand has been sluggish. Growth of the economy will accelerate during 2017–2019, but the growth rate will be lower than in the pre-2015 years – at 2–3% annually. Investment will continue to be the main driver of growth.


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

Countries covered: Kazakhstan