BAKU, Azerbaijan, Nov. 12
Trend:
Kazakhstan's GDP may reach pre-crisis levels in 2021, Renaissance Capital investment company told Trend on Nov. 12.
According to Renaissance Capital, diversification in Kazakhstan is not happening so quickly - the share of the oil and gas industry in GDP and exports has changed insignificantly over the past 10 years.
"We see a dynamic growth in investment in manufacturing industries, in the service sector, where a steady growth is observed. The strengths of the Kazakh economy are a large supply of development of domestic markets and positive demographic trends (growing population and one of the "youngest" populations in the CIS)", Renaissance Capital said.
The company also noted that due to this, Kazakhstan relatively easily survived the crisis of 2020, accompanied by a sharp drop in commodity prices in the world and quarantine due to COVID-19.