Macroeconomic Forecast Kazakhstan

Inflation has continued to tick upwards in recent months, rising to 7.8% y-o-y as of December, up from 7.3% back in September. We previously stated this could occur owing to normalisation of tariff arrangements with Russia within the context of the customs union between Russia, Belarus and Kazakhstan. Further bolstered by rising commodity prices, we see inflation remaining high in Kazakhstan this year and have raised our end-year forecast to 7.5% from 6.8% previously.

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