wiiw Forecast Reports

KAZAKHSTAN: Waiting for devaluation


Olga Pindyuk

in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 113-116

free download

Hardcopy 5 add to cart  

Shipping Costs

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