Article by Currency Information and Research

Future Outlook of the Currency of Kazakhstan (KZT)

Currently Kazakhstan is the 48th largest economy in the world, thanks to a good inheritance from Russia and oil and minerals when dismembered territory of the Soviet Union. One of the largest oil reserves in the world and the largest reserves of uranium, the country promises to develop a key role in the energy paths of the world beyond.

After years of difficulty after separating from Soviets, Kazakhstan lived great moments, which saw growth rates of GDP of over 10% per year. He was also the first country to double the GDP in a shorter period than 10 years, the result of good policies and strategic dealings with neighbors such as Russia and China, and of course, foreign investment.

Recovered after the global crisis that startled the world in 2008, faster than other countries, Kazakhstan's economy has, today, excellent rates to show: his unemployment has been falling and is currently at around 5% and their inflation also maintains low levels, being about 6 to 7% in recent years.

For the coming years is expected to further increase foreign investment in the country. Multinationals are setting up for you in recent years, such as Toyota car maker, which is seeking to exploit the growing car market in Kazakhstan. The factory opened in Kostanay in 2014 has the capacity to deliver more than 3000 vehicles a year, a record for the kazakhstan . The government reported that only in 2014 were more than 2 billion dollars in cars and the outlook for the future is more than double that figure.

And it is not only investments and returns in the auto industry for years to come. After the government cut taxes for foreign investors the scenery is the best possible. The results, almost immediate, already show that attitude worked. In July 2015 the country reported that attracted more than 16 billion in primary industry and put into operation hundreds new products, including chemicals, derivatives from the uranium and the rare earth raw materials (chemicals used in industry for the production of various items).

One of the last measures of the government and full of hope to all who want to invest in the country is that through the new economic policy of Kazakhstan investments in infrastructure will be massive in the coming years. In the short term the program will try to implement an anti-crisis system that tries to calm the effects of the global crisis. In the long term analysts expect Kazakhstan to develop an enabling environment for new investments and rapid growth.

And it is worth remembering that the optimistic forecasts are not only the Kazakh government. Recently the World Bank ranked the country as one of the 20 best nations in which to invest, and the World Economic Forum placed the country in 50th position in its global competitiveness ranking, a competition among 144 countries.

The future looks promising for Kazakhstan and for those who solve bet in the country.


All rights reserved 2024 Currency Information and Research sitemap