wiiw Forecast Reports

KAZAKHSTAN: Rapid recovery in doubt


Alexandra Bykova

in: Darkest before the dawn?
wiiw Forecast Report No. Spring 2021, April 2021 , pp. 77-81

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After a relatively moderate real GDP decline of 2.6% in 2020 (thanks to a large anti-crisis fiscal package), economic recovery of 3.2% is expected for 2021. Although the high price of oil could suggest a more robust economic revival, the remaining pandemic-related restrictions on economic activity and the slow vaccination rate will impede a full recovery in consumption this year. Economic growth is likely to accelerate to above 4% in 2022-2023, driven by consumption, exports and investment.


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

Countries covered: Kazakhstan