Kazakhstan Economic Outlook
July 7, 2020
Incoming data points to a sharp contraction in GDP in the second quarter, after growth plunged at the start of the year as the effects of the coronavirus pandemic first took hold. In May, economic activity recorded another sharp fall; retail sales plummeted over 30% amid lockdown and social distancing measures to contain the virus; and industrial production growth fell to a one-year low. Meanwhile, in a setback to the recovery, the government announced it will reintroduce tough lockdown measures in July amid a sharp rise in infections. Government measures had been largely lifted in mid-May to reopen the economy, and the return of restrictions will prolong the economy entering a recovery.Kazakhstan Economic Growth
Kazakhstan’s prospects deteriorated once again this month. GDP is seen contracting notably this year as stringent lockdown measures, low oil prices and a slow global recovery hammer the outlook. Downside risks linger especially from another long lockdown and low oil prices. FocusEconomics analysts project GDP to fall 2.0% in 2020, which is down 0.1 percentage points from last month’s forecast, and to increase 4.2% in 2021.Kazakhstan Economy Data
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Kazakhstan Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 382.9 | 0.32 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
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Kazakhstan Economic News
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Kazakhstan: Inflation hits over two-year high in July
August 3, 2020
Consumer prices increased a seasonally-adjusted 0.30% from the previous month in July, a smaller increase than June's 0.40% rise.
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Kazakhstan: Central Bank cuts base rate to 9.00% in July
July 20, 2020
The National Bank of Kazakhstan (NBK) cut the base rate by 50 basis points to 9.00% at its monetary policy meeting on 20 July, after June’s decision to hold.
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Kazakhstan: Industrial output drops at sharpest rate since August 2016 in June
July 17, 2020
Industrial production collapsed 5.6% year-on-year in June (May: +0.5% yoy).
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Kazakhstan: Inflation hits over two-year high in June
July 2, 2020
Consumer prices rose a seasonally-adjusted 0.40% from the last month in June, coming in below May's 0.50% rise.
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Kazakhstan: Tenge recovers lost ground in May
June 9, 2020
Kazakhstan’s tenge (KZT) strengthened notably against the U.S. dollar in May and at the start of June, after having sunk to a record low in March.
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