Kazakhstan Economic Outlook
May 10, 2022
After strong growth figures indicated that the economy had recovered from Covid-19 by the end of 2021, the economy likely continued its acceleration in Q1 2022. Monthly economic activity growth averaged slightly higher than in Q4, although national accounts data has not yet been made available. However, momentum was seemingly affected in January by social unrest, as suggested by lower PMI readings during the month. Turning to Q2, both the manufacturing and services PMIs rose in April, signaling a solid start to the quarter notwithstanding the fallout from the Russia-Ukraine war. In particular, the services PMI indicated a move back into expansionary territory amid stronger new orders. Moreover, solid government spending—facilitated by high energy prices—should be providing further support. That said, surging inflation and higher interest rates are likely capping consumer spending.Kazakhstan Economic Growth
Our panelists significantly lowered their growth forecasts for 2022 recently amid the disruptions from the war in Ukraine, high inflation and tighter monetary policy. However, pro-market reforms and oil prices should support activity. A resurgence of social unrest, reduced oil exports because of damaged pipelines and currency devaluation are downside risks. FocusEconomics analysts project GDP to expand 2.4% in 2022, which is down 0.4 percentage points from last month’s forecast. In 2023, the economy is set to grow 3.8%.Kazakhstan Economy Data
Sample Report
5 years of Kazakhstan economic forecasts for more than 30 economic indicators.
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Kazakhstan Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 382.9 | 0.32 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Kazakhstan Economic News
-
Kazakhstan: Industrial output growth speeds up in March
April 18, 2022
Industrial output grew 8.1% in year-on-year terms in March, which was above February's 6.5% increase.
-
Kazakhstan: Inflation surges in March
April 1, 2022
Consumer prices increased 3.70% over the previous month in March, up from the 0.80% rise logged in February. Inflation came in at 12.0% in March, up from 8.7% in February and marking the highest reading since 2016.
-
Kazakhstan: Industrial output growth gains momentum in February
March 16, 2022
Industrial output expanded 6.5% in year-on-year terms in February, which followed January's 2.9% increase.
-
Kazakhstan: Central bank stands pat in March
March 9, 2022
At its latest meeting on 9 March, the National Bank of Kazakhstan (NBK) decided to keep the base rate at 13.50%, following its decision to hike the rate by 325 basis points in late February.
-
Kazakhstan: Kazakh tenge collapses amid the fallout of war in Ukraine, despite central bank support
March 4, 2022
Russia’s invasion of Ukraine on 24 February was met with severe Western sanctions, which quickly caused the ruble to depreciate and caused, in a spillover effect, volatility for the tenge.
© Copyright: 2022. | Kazakhstan Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
