Country Economic Forecasts - Kazakhstan
After last year’s rebound in GDP growth to about 4%, alongside sharply lower inflation and a stronger exchange rate, the pace is set to slow to about 3.5% in both 2018 and 2019 unless oil prices rally unexpectedly. However, non-traditional manufacturing and services are now driving output and export growth, with smaller private businesses starting to widen income gains and create more jobs. This raises the likelihood of sustained infrastructure and skills investment moving future expansion further away from oil and raw minerals, and accelerating structural change through rising FDI.
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