BAKU, Azerbaijan, April 11. Kazakhstan may benefit from the situation with sanctions against Russia in the long term, Sofia Donets and Andrei Melashchenko, economic experts for Russia and the CIS at the Renaissance Capital investment company, told Trend.
According to the experts, this is possible taking into account the measures of capital control in Russia and the ban on investments in the country from a number of developed economies.
Kazakhstan is moderately sensitive country in the region to the slowdown in economic activity in Russia.
"In this context, the sensitivity of Tajikistan, Uzbekistan and Georgia is much greater. Nearly four percent of Kazakhstan's GDP account for exports, remittances and direct investments from Russia, according to our estimates,” the experts said.
“Nevertheless, the economies of countries in the trade union are traditionally connected, and we expect a slowdown in Kazakhstan's GDP growth to three-four percent year on year (compared to the previous forecast of 5.3 percent), despite the favorable oil market conditions and projected production growth," the experts noted.
“We don’t expect any separate sanctions (for example, on energy resources transported through Russia) against Kazakhstan," the experts pointed out.
"Kazakhstan’s Presidential Administration noted that the country will comply with the sanctions imposed by the international community on Russia,” the experts further said. “Kazakhstan has traditionally been perceived by investors as "Russia without sanctions" (due to the similarity of the structure of the economy).”
Kazakhstan may benefit from the sanctions in the long term ," added the experts.