BAKU, Azerbaijan, July 15. Demand for Kazakh goods in world markets may weaken, Trend reports with reference to macro-review of the Eurasian Development Bank (EDB) - ‘Discorrelation of the dynamics of national currencies - a new phenomenon in Eurasian Economic Union (EAEU)’.
The review also said that economic activity in Kazakhstan is growing.
"Kazakhstan's GDP grew by 4.6 percent in first five months of 2022 (4.4 percent from January through April 2022). The improvement was facilitated by the expansion of activity in the service sector - primarily in trade, where the growth rate accelerated to 10.8 percent,” said the review. “The construction sector maintained high growth rates (by 8.9 percent)."
The EDB said strong export growth also contributed to the acceleration of economic activity in Kazakhstan from January through May 2022.
"According to EDB analysts, a weakening of demand for Kazakh goods is possible in the second half of 2022, both on the part of world markets - amid a slowdown in global economic growth, and from domestic consumption - amid high inflation,” the review said.
“Maintaining positive growth in the rest of 2022 Fiscal policy and higher than a year earlier prices for Kazakh main export commodities will help,” the review said.