How January Events in Kazakhstan May Impact Its GDP

The direct losses of Kazakhstan’s GDP in 2022 after the January events, when the economic activity weakened, may reach 0.15-0.2 percentage points, according to the forecast by Evgeniy Vinokurov, expert of the Eurasian Development Bank (EABR).

Despite the slowdown in economic activity in Kazakhstan this month, the EABR believes this effect will soon be mitigated. 

Once medium and small businesses in the country receive compensation from the government and the situation in the country is stabilized, the economy will start to grow by the end of the first quarter, says the analyst.

At the end of 2022, the GDP of Kazakhstan may surge by 4% while the rate of inflation on the contrary will slow down and reach the target rate of 4-6% set by the National Bank.