Macroeconomic Forecast Kazakhstan

We expect the Kazakh merchandise trade surplus to remain healthy over the coming years, roughly doubling in nominal terms to US$30bn on the back of continued growth in the oil sector. Although we forecast the surplus to decline as a proportion of GDP from 21% in 2006 to 17% over the same period, it will still cover the services and income deficits, and also keep the current account in a small surplus. As a result, we expect moderate long-term upside pressure on the

To read the full article, please choose one of the following options: