wiiw Current Analyses and Forecasts
Kazakhstan: Strong growth and structural reforms
in: Animal Spirits still Dimmed: Slow Recovery Expected
wiiw Current Analyses and Forecasts No. 12, July 2013 , pp. 127-130
In Kazakhstan real GDP will grow by 5% to 6.5% over the period 2013-2015, in particular owing to the increase in oil production with the start of operations in the Kashagan oil field. The country will thus assume the lead in terms of economic growth in the region covered by our analysis. While the banking system continues to struggle with high non-performing loans, the government has decided to reduce significantly its support to the finance sector. At the same time, the government plans to change drastically the landscape of the pension funds sector by nationalising existing private pension funds and merging their assets into one state pension fund, constituting the mandatory pension pillar.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Kazakhstan