Kazakhstan

map Kazakhstan
Recession in Russia will drag down Kazakhstan’s economic performance in 2022. Inflation will accelerate on the back of high global food and energy prices, as well as high imported inflation from Russia. At the same time, elevated global commodity prices will have a beneficial impact on exports and tax revenues, and we expect net exports to make a positive contribution to economic growth. We have revised our real GDP growth forecast in the baseline scenario down to 1.5% for 2022 and 3.2% for 2023.
        FORECAST*
Main Economic Indicators201920202021202220232024
Population, 1000 persons185141875619003...
GDP, real change in %4.5-2.54.11.53.24.0
GDP per capita (EUR at PPP)186901788019010...
Gross industrial production, real change in %4.1-0.53.8...
Unemployment rate - LFS, in %, average4.84.94.95.04.84.8
Average gross monthly wages, EUR436452495...
Consumer prices, % p.a.5.36.88.011.08.06.0
Fiscal balance in % of GDP-1.9-4.0-3.1-3.5-2.5-2.0
Public debt in % of GDP24.930.528.2...
Current account in % of GDP-4.0-3.8-3.0-0.3-1.0-1.2
FDI inflow, EUR m333263023704...
Gross external debt in % of GDP87.689.389.5...


Basic data are continuously updated.

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

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Executive summary

Vasily Astrov
in: Overshadowed by War and Sanctions
wiiw Forecast Report No. Spring 2022, April 2022 , pp. I-VII
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Monthly Report No. 1/2022

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Richard Grieveson, Doris Hanzl-Weiss, Marcus How, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 1, January 2022
58 pages including 4 Tables and 21 Figures

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