Kazakhstan cuts industrial production forecast.

By bne IntelliNews November 5, 2013

Kazakhstan cut its forecast of industrial production to 3.4% y/y this year from original 3.8% y/y, according to the government answer to “Reuters” question. In 2014, industrial output is expected to grow by 2.7% y/y, down from earlier projected 3.4% y/y. The Economy Ministry blamed weaker export demand for Kazakh commodities. Coal production is expected to decrease by 4.6% y/y this year, ferrous metals – by 13% and oil refining by 3.7%, the ministry has added. In Jan-Sep, industrial production expanded by 2.1% y/y against 0.5% y/y reported in the same period of previous year.

The Kazakh government keeps its GDP growth forecast unchanged at 6% y/y. However, the recent change in industrial output projection may force the authorities to revise it downward. Recently, the IMF cut Kazakhstan’s GDP forecast to 5% from 5.25% for 2013.  

Related Articles

Narrower gauge of Kazakh GDP at 0.8% for 2016

Kazakhstan's short-term economic indicator, a narrower gauge of annual GDP growth, edged up 0.8% in 2016, data from the State Statistics Committee showed. ... more

World Bank raises growth forecasts for Kazakhstan and Azerbaijan

The World Bank’s latest “Global Economic Prospects” report issued on January 10 offers a mixed picture when it comes to the GDP growth prospects of countries across Central Asia and the ... more

Kazakhstan shuts down independent trade union body

A Kazakh economic court on January 4 ordered the permanent closure of an independent trade union body, the Confederation of Independent Trade Unions of Kazakhstan (CITUK), ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss