Publication:
Kazakhstan Economic Update, Winter 2021/2022: Economic Recovery during Challenging Times

Simple item page
dc.contributor.authorWorld Bank
dc.date.accessioned2021-12-22T17:23:23Z
dc.date.available2021-12-22T17:23:23Z
dc.date.issued2021-12-22
dc.description.abstractAfter suffering a pandemic-driven slump in 2020, Kazakhstan’s economic recovery is on track, having sustained quarterly growth throughout Q3 2021. Reduced COVID-19 cases and the loosening of mobility restrictions support business activities and maintain the rebound in consumer demand. However, annual inflation surged to the highest recorded level since 2016, driven mostly by food price inflation and large-scale disruptions in global supply chains, eroding purchasing power, particularly for lower-income households. We project real GDP growth in the 3.5-4.0 percent range in 2022, although the economy will remain below the pre-pandemic baseline path for the entire forecast horizon. Growth will be supported by robust domestic activity, a supportive fiscal stance, and further progress in vaccination. Despite the improving economic outlook, downside risks remain. The risk of another potential COVID-19 outbreak cannot be ruled out. Rising inflation is another concern and would require a tighter monetary stance, potentially affecting domestic borrowing conditions. Volatile prices and uncertainty over the scale of demand growth for oil are other risks that could weaken the current account and pressure the exchange rate.en
dc.identifierhttp://documents.worldbank.org/curated/undefined/566741640158785669/Winter-2021-2022
dc.identifier.doi10.1596/36772
dc.identifier.urihttps://hdl.handle.net/10986/36772
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectCORONAVIRUS
dc.subjectCOVID-19
dc.subjectPANDEMIC IMPACT
dc.subjectINFLATION
dc.subjectEXTERNAL BALANCE
dc.subjectMONETARY POLICY
dc.subjectFISCAL TRENDS
dc.subjectECONOMIC OUTLOOK
dc.subjectCLIMATE CHANGE
dc.subjectECONOMIC RECOVERY
dc.titleKazakhstan Economic Update, Winter 2021/2022en
dc.title.subtitleEconomic Recovery during Challenging Timesen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleKazakhstan Economic Update, Winter 2021/2022
okr.date.disclosure2021-12-22
okr.date.doiregistration2025-05-07T09:07:12.351020Z
okr.date.lastmodified2021-12-22T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/undefined/566741640158785669/Winter-2021-2022
okr.guid529271643123156514
okr.guid566741640158785669
okr.identifier.externaldocumentum090224b088c4442a_1_0
okr.identifier.internaldocumentum33688983
okr.identifier.report167263
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/566741640158785669/pdf/Winter-2021-2022.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryKazakhstan
okr.topicPublic Sector Development::Public Sector Economics
okr.topicHealth, Nutrition and Population::Disease Control & Prevention
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicPoverty Reduction::Employment and Shared Growth
okr.topicEnvironment::Climate Change and Environment
okr.unitEFI-ECA-MTI-MacroFiscal-1 (EECM1)
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
Winter-2021-2022.pdf
Size:
6.17 MB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
Winter-2021-2022.txt
Size:
98.65 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Economic Updates and Modeling