wiiw Forecast Reports

KAZAKHSTAN: Geopolitical balancing act to limit economic damage


Alexandra Bykova

in: Bracing for the Winter
wiiw Forecast Report No. Autumn 2022, October 2022 , pp. 92-96

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Amid all the geopolitical shocks, Kazakhstan’s balancing act has helped it limit the economic damage. Nevertheless, the economy has been weakening, having been hit by all the disruptions, and is expected to grow by 2.8% this year. Although infrastructure investments, import substitution policies and fiscal stimulus to consumption should all go some way to supporting growth, in view of the lower oil prices, the further recession in Russia and the unfavourable external environment we have revised our real GDP forecast for 2023-2024 slightly downwards.


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

Countries covered: Kazakhstan