Income growth is a key government policy. Raising the country to high-middle income status by the end of the decade is a key policy priority for the President. This will be a powerful driver for the consumer sector.
Category: Industry Reports
The crisis caused by events in Ukraine triggered huge problems across the Eurasia region. For Kazakhstan, headline growth estimates have been revised downwards from to 2.0-2.5% (from 4.0% last year). Refer to our Kazakhstan Briefing Modernization: Means, Motive and Opportunity, (issued in May), for an in-depth analysis of economic trends and political changes.
The post-Soviet liberalization of the Russian economy and the rapid growth of China in the same period have resurrected the pre-1914 vision of uniting Eurasia via transport corridors. This report looks at the current situation and development plans, in terms of physical infrastructure and regulatory frameworks, that aim to realize this vision.
Having concentrated on fiscal and monetary reforms and on advancing big infrastructure projects, over the past five years, the government is now much more actively pursuing economic and export diversification projects, to create employment and support rural communities. Agriculture has emerged top of the priority sector list.
Multinational pharmaceutical companies often struggle in the Eurasia region, but for those that do navigate into these waters the rewards are a US$20 bln market.
The Ukrainian government announced a package of an additional US$155 million of financial support for agriculture. This is in keeping with a recent increase in other general supports for agriculture. While officials have long favored consumers in their agricultural-food policies, it now appears to be pursuing a program of greater budgetary assistance for the sector.
Recent events in Minsk signal that political change has started in Belarus (see our separately published reports covering political and macro-economic analysis). While the timing is uncertain, what is clear is that political changes will also lead to policy changes and, very likely, a greater openness to foreign investors.
More focused. Having concentrated on fiscal and monetary reforms and on advancing big infrastructure projects, such as in the power sector, the Uzbek government is now much more actively pursuing economic and export diversification projects, especially in areas that can create employment and support rural communities. Agriculture has emerged as top of that list.
After many years of including the development of the agriculture and food sectors in five-year development plans, President Tokayev’s government has become a lot more focused on practical steps to help the sector grow and become a bigger part of the economy and exports.
The value of the Kazakh e-commerce market grew 80% YoY in 2019, to reach US$1.6 billion. Most online companies have reported stronger growth in 1H20 because of the lockdown. Over the first four months of 2020, Kaspi saw orders on its marketplace platform rise 103% to a record KZT69 billion (US$172 million).