Kazakhstan Economic Outlook
October 4, 2016GDP growth fell to 0.1% in the first half of 2016 from 1.7% in the same period last year as declining exports and anemic domestic demand dragged down overall economic activity, principally in the country’s industrial sector. Industry contracted 1.8% in H1 as sluggish mining activity and construction reversed an expansion in the same period last year. Recent data continue to suggest that Kazakhstan’s industrial sector remains depressed as industrial production plunged 7.5% annually in August, which followed two mild increases in June and July. On 15 September, the government presented the 2017 budget in which it expects a fiscal deficit of 2.0% of GDP this year and 1.2% of GDP in 2017. The official oil output forecast for 2017 stands at 79.5 million metric tons, an increase on the forecast for this year of 75.5 million metric tons.
Kazakhstan Economy Data
5 years of Kazakhstan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||331.2||-0.19 %||Oct 20|
|Stock Market||0.2||0.0 %||Oct 20|
Kazakhstan Economic Growth
October 4, 2016Weak oil prices, the impact of the currency devaluation and the recession in Russia prompted GDP growth to slow substantially in the first half and the current deficit to double from the same period in 2015. A silver lining is the re-launch in production in the Kashagan oil field at a time when the outlook for oil prices is positive. Forecasters raised their 2016 GDP forecasts by 0.1 percentage points over the previous month and expect GDP to expand 0.5%. In 2017, GDP growth is seen picking up to 2.2%.
Kazakhstan Economic News
October 3, 2016
The National Bank of Kazakhstan announced a decision to cut the one-day repo rate—also known as the base rate—by 50 basis points to 12.50% at its 3 October meeting.
October 3, 2016
In September, consumer prices rose 0.2% over the previous month.
September 15, 2016
Industrial production plunged 7.5% annually in August, which underscored the fragility of the recovery in the Kazakh industrial sector.
September 1, 2016
In August, consumer prices rose 0.2% over the previous month, down from the 0.5% increase observed in July.
August 19, 2016
A drop in oil prices and a deeper recession in Russia have taken a heavy toll on Kazakhstan’s economy.