Kazakhstan: Economic situation

08-09-2015

Kazakhstan, Central Asia's largest economy, is an upper-middle-income country aiming to join the world's 30 most developed countries by 2050. Russia's economic slowdown, a weakened domestic demand after the devaluation of the national currency, the tenge, and adverse developments in the terms of trade, have pushed economic growth down to 4.3% in 2014 from 6% in 2013, and will continue to do so in 2015. On a more optimistic note, Kazakhstan's newly acquired WTO membership will further strengthen its integration in global trade and economy.

Kazakhstan, Central Asia's largest economy, is an upper-middle-income country aiming to join the world's 30 most developed countries by 2050. Russia's economic slowdown, a weakened domestic demand after the devaluation of the national currency, the tenge, and adverse developments in the terms of trade, have pushed economic growth down to 4.3% in 2014 from 6% in 2013, and will continue to do so in 2015. On a more optimistic note, Kazakhstan's newly acquired WTO membership will further strengthen its integration in global trade and economy.