wiiw Forecast Reports
KAZAKHSTAN: Waiting for devaluation
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 113-116
KAZAKHSTAN
The drop in global oil prices and the depreciation of the Russian rouble has led to deterioration in Kazakhstan’s economic outlook. In 2015, growth will slow down to 2%, the lowest level since 2009. In the biennium 2016-2017, GDP growth will revive, rising to 3.5% and 4.5%, respectively. The National Bank is likely to embark on a gradual devaluation of the tenge vis-à-vis the US dollar, by about 15% by the end of 2015. A new economic policy known as Nurly Zhol is expected to boost investment in the country over the medium term.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Kazakhstan