Kazakhstan Economic Update, December 2020 : A Slow Recovery Through the COVID-19 Crisis
The fallout of the Coronavirus (COVID-19) pandemic has hit the economy more than the crises in 2008 and 2015. The pandemic is projected to shrink by 2.5 percent this year. The economy is expected to grow modesty by 2.5 percent next year, based on a...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/792601609750238730/Kazakhstan-Economic-Update-A-Slow-Recovery-Through-the-COVID-19-Crisis http://hdl.handle.net/10986/34977 |
| Summary: | The fallout of the Coronavirus
(COVID-19) pandemic has hit the economy more than the crises
in 2008 and 2015. The pandemic is projected to shrink by 2.5
percent this year. The economy is expected to grow modesty
by 2.5 percent next year, based on an improved global
economic outlook. This report estimates Kazakhstan’s
poverty rate will increase to 12-14 percent in 2020 from a
baseline of 6 percent Nevertheless, there are significant
risks because of uneven economic recovery across countries
due to the protracted pandemic and higher debt-related risks
to the global financial market. The domestic financial
sector is also exposed to a higher risk of growing
non-performing loans if support measures are withdrawn. |
|---|