Kazakhstan’s economy stalls in January-September

By bne IntelliNews October 13, 2016

Kazakhstan's economic growth ground to a halt in January-September, as low energy and other commodity prices continue to hurt the oil-dependent country. The short-term economic indicator, a narrower gauge of annual GDP growth, remained unchanged on an annual basis in the first nine months of 2016, versus a 0.8% hike a year ago, the State Statistics Committee said on October 12. 

The indicator is based on the change in output indices in six basic sectors: agriculture, industry, construction, trade, transport and telecommunications. These sectors constitute 60% of GDP and so the short-term economic indicator gives an idea about the country's GDP expansion.

According to the data, investment in fixed assets increased 4.1% y/y to KZT5.07tn (€15.3bn) in the nine-month period. Industrial output shrank by 2% y/y to KZT13.2tn in the current prices. The volume of gross output in agriculture went up by 4.9% y/y to KZT2.504tn.

The transport sector expanded by 4% y/y, while the telecommunications sector contracted by 3.1% y/y and the volume of trade fell by 2.7% y/y.

The Kazakh government expects economic growth to sharply ease to 0.5% this year from 1.2% in 2015. The estimate is below the latest forecast of the Asian Development Bank that pitches growth just 0.1% y/y. The International Monetary Fund (IMF), however, is more optimistic projecting this year's growth at 0.8%.

Related Articles

Ukraine's central bank cuts key policy rate to 13%

The National Bank of Ukraine (NBU) will cut its key policy rate by 1 percentage point (pp) to 13% per annum, the regulator said in a statement published on April 13. According to the ... more

Polish core inflation surprises with strong acceleration in March

Polish core inflation gained 0.6% y/y in March, the National Bank of Poland (NBP) announced on April 12. The reading is 0.1pp above market expectations and 0.3pp higher compared to February.   ... ... more

Erdogan pressure drives Turkish banks to cut mortgage rates to below deposit rates

Rising liquidity costs caused by the implicit rate hikes of the Turkish central bank pushed the average cost of 3-month deposits for Turkey's banks to 11.30% while the average mortgage rate declined ... 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