map Kazakhstan
Amid all the geopolitical shocks, Kazakhstan’s balancing act has helped it limit the economic damage. Nevertheless, the economy has been weakening, having been hit by all the disruptions, and is expected to grow by 2.8% this year. Although infrastructure investments, import substitution policies and fiscal stimulus to consumption should all go some way to supporting growth, in view of the lower oil prices, the further recession in Russia and the unfavourable external environment we have revised our real GDP forecast for 2023-2024 slightly downwards.
Main Economic Indicators201920202021202220232024
Population, 1000 persons185141875619001...
GDP, real change in %4.5-
GDP per capita (EUR at PPP)186801787019720...
Gross industrial production, real change in %4.1-0.53.6...
Unemployment rate - LFS, in %, average4.
Average gross monthly wages, EUR436452497...
Consumer prices, % p.a.
Fiscal balance in % of GDP-1.9-4.0-3.0-2.0-2.7-2.6
Public debt in % of GDP24.930.527.6...
Current account in % of GDP-4.6-4.4-4.03.0-0.5-1.5
FDI inflow, EUR m333263243876...
Gross external debt in % of GDP87.889.587.5...

Basic data are continuously updated.

* Forecasts are changed beginning of January, April, July and November.
See Press Conferences.


Executive summary

Branimir Jovanović
in: Bracing for the Winter
wiiw Forecast Report No. Autumn 2022, October 2022 , pp. I-VIII


Monthly Report No. 7-8/2022

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Bernhard Moshammer, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2022
58 pages including 4 Tables and 21 Figures