Training on modelling fundamentals December 17–18

Kazakhstan’s accelerating economy will also support inflation

Kazakhstan economy: 2021 outlook

This outlook is drawn up in line with ACRA’s General Principles of Socioeconomic Indicators Forecasting.

  • Kazakhstan inflation has stabilized and it is expected to go down to 6.4% by late 2019 and to 6% by 2021. After the seasonal growth in winter, the Consumer Price Index (CPI) will return to downslide as early as in spring 2018. Inflation growth rate will slip on the inflation import from Russia and the weak dynamics of real incomes. Inflation drivers will include economic revival and increasing monetary obligations of the National Bank of Kazakhstan (the NBK).
  • Economic growth will be supported by higher mining output and relatively high prices for oil and metals. From 2017 to 2021, the Kazakhstan economy will grow by 3.2% on average per year (the industry and services sectors will contribute 1.3 pps and 1.1 pps, respectively).
  • In its 3-year budget proposal, the Government of Kazakhstan expects budget revenues to grow in 2018–2020. The guaranteed transfer is planned for cut…

The full version of this document is only available after a payment.

To clarify the cost and terms of payment, please contact Artem Mayorov

phone: +7 (495) 139 04 80, доб. 147, email:

Log in

Forgot password

Sign up

Reset password

Reset password


Полное использование материалов сайта разрешается только с письменного согласия правообладателя, АКРА (АО). Частичное использование материалов сайта (не более 30% текста статьи) разрешается только при условии указания гиперссылки на непосредственный адрес материала на сайте . Гиперссылка должна быть размещена в подзаголовке или в первом абзаце материала. Размер шрифта гиперссылки не должен быть меньше шрифта текста используемого материала.