Consumption in Kazakhstan
Kazakhstan - Consumption
Growth picks up in 2019
An official release revealed that economic activity accelerated last year. GDP growth sped up to 4.5% in 2019, up from 4.1% in 2018, according to the Statistical Institute. Although a comprehensive release is not yet available, sturdy domestic activity seems to have buoyed the overall expansion. Household spending likely benefited from higher wages, while capital investment growth likely accelerated thanks to government efforts to improve the business climate and incentives for non-oil investment.
Growth is expected to moderate this year but should remain solid nonetheless. Robust output has strengthened the government’s hand to push ahead with its privatization agenda, which should foster solid fixed investment growth ahead. Exports are expected to gain some steam, although protracted weakness in Chinese demand due to the coronavirus outbreak pose a downside risk to the outlook.
Analysts surveyed by FocusEconomics see the economy expanding 3.8% in 2020, which is unchanged from last month’s estimate, and 3.9% in 2021.
Kazakhstan - Consumption Data
|Consumption (annual variation in %)||1.8||1.2||1.5||6.1||5.8|
5 years of economic forecasts for more than 30 economic indicators.
Source: Agency of Statistics
|Exchange Rate||382.9||0.32 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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July 17, 2020
Industrial production increased a meagre 0.5% year-on-year in May (April: +6.2% yoy), as the effects of the Covid-19 pandemic dented activity.
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.
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.
June 8, 2020
The National Bank of Kazakhstan (NBK) decided to keep the base rate steady at 9.50% at its monetary policy meeting on 8 June, after having slashed it by 250 basis points in April in the wake of Covid-19.
June 1, 2020
Consumer prices increased 0.5% month-on-month in May, below April’s 0.9% rise.