wiiw Current Analyses and Forecasts

Kazakhstan: Strong growth continues, but problems in the banking sector remain


Olga Pindyuk

in: New Divide(s) in Europe?
wiiw Current Analyses and Forecasts No. 9, March 2012 , pp. 110-113

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Kazakhstan’s economy exhibited outstanding real growth of 7.5% in 2011. We forecast that strong GDP growth of 5-6% in real terms will continue in 2012-2014. The oil sector will remain the backbone of the economy, accounting for the bulk of its exports and FDI. Investment growth is forecasted to speed up in 2012-2014 to about 8-10%, in particular owing to a number of state-financed investment projects. Banking sector vulnerabilities have been accumulating, with the share of non-performing bank loans reaching 21.7% and the BTA bank negotiating a second restructuring.


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

Countries covered: Kazakhstan