Kazakhstan: Economy

Weak petroleum prices and the continued impact of currency depreciation on import prices cut growth in Kazakhstan to 0.1%, sharply accelerated inflation in the first half of 2016, and doubled the current account deficit from the same period in 2015. With similar trends expected for the rest of the year, the 2016 growth forecast for the gross domestic product is cut to 0.1%, while projections for inflation and the current account deficit are revised up for both 2016 and 2017. Read more from Asian Development Outlook 2016 Update

Economic forecasts for Central Asian countries

Country 2016 2017
Armenia 2.0 2.3
Azerbaijan -2.5 1.0
Georgia 3.0 4.0
Kazakhstan 0.1 1.0
Kyrgyz Republic 1.0 2.0
Tajikistan 3.8 4.0
Turkmenistan 5.5 5.50
Uzbekistan 6.9 7.3
Average 1.5 2.6
Country 2016 2017
Armenia 1.5 4.0
Azerbaijan 12.0 5.2
Georgia 3.0 4.0
Kazakhstan 14.7 6.0
Kyrgyz Republic 5.0 8.0
Tajikistan 8.5 7.5
Turkmenistan 5.0 4.4
Uzbekistan 10.0 11.0
Average 11.5 6.4
Country 2016 2017
Armenia -4.8 -5.0
Azerbaijan -0.6 1.5
Georgia -12.0 -11.5
Kazakhstan -5.5 -4.9
Kyrgyz Republic -17.0 -15.0
Tajikistan -4.8 -5.5
Turkmenistan -13.3 -10.0
Uzbekistan 0.2 0.8
Average -5.0 -3.9

Source: Asian Development Outlook 2016 Update