Kazakhstan Infrastructure Report Q2 2014

Business Monitor International
March 12, 2014
82 Pages - SKU: BMI5214847
Countries covered: Kazakhstan

Kazakhstan Infrastructure Report Q2 2014

BMI View: Kazakhstan's construction industry will experience solid growth over our forecast period on theback of continued investment into the hydrocarbons sector, transport links and industrialprojects. However, following a major devaluation in the tenge, we have downgraded our forecasts for thesector, as the nascent development of the residential and non-residential sectors will be negativelyimpacted. We estimate that 5.7% growth was posted in 2013 and as progress is made on a number of largescaleprojects, a revised down forecast of 7.3% is expected in 2014. Long-term political stability remainsthe major risk to confidence, although there are signs that a presidential successor is being lined up, whichwill lower the risk outlook. The construction sector will remain exposed to global oil and commodity pricefluctuations.

Key Trends And Developments

We are mainly highlighting the downside to the currency devaluation. While the devaluation will providea boost to net exports, it is set to drag on the key driver of Kazakh economic activity: privateconsumption. As such, demand for housing, commercial and industrial construction will all diminish overthe short term at least.



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