wiiw Current Analyses and Forecasts
Kazakhstan: Fast growth is back, but sustainability problems remain
in: Recovery - in Low Gear across Tough Terrain
wiiw Current Analyses and Forecasts No. 7, March 2011 , pp. 97-100
In Kazakhstan the economy recorded a remarkable rebound in 2010. The driving force behind this
rapid growth was an upsurge in external demand for oil and metals. Those two sectors will continue
to play the dominant role in the Kazakh economy. We expect investment to pick up in the wake of
plans to expand the network of pipelines and increase public spending on other infrastructure projects.
The after-effects of the housing bubble and banking crisis are still visible and pose an impediment
to growth. Inflation will remain within the 6%-7% range, while the tenge will be revalued somewhat
during the period forecast.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Kazakhstan