Voice Assistant

en
Қазақша
Русский
English
location

Leading indicator of economy (6 months of 2023)

According to the data for the first half of the year, the economy grew by 5%, while the short-term economy indicator - by 5.6%. The widening of the difference between the short-term economic indicator and GDP data occurred as a result of the economic downturn in professional activity fields, real estate transactions and public administration and defence. Cyclical industries continue to be the main economic drivers, growing by double-digit values due to the increased government spending, growing consumer activity and the implementation of infrastructure modernization plans. We expect these industries to continue to maintain high growth rates. 

The industrial sector also has an additional positive impact on the economy. Thus, the mining industry grew by 15.4% compared to June last year as a result of the base effect. Considering that last year the problems at CPC and Kashagan continued until November, we should expect the development of this industry at high levels by the end of the year.

Thus, the previously observed trends persist and the economy continues to be in the overheating zone. 

Given the above, we expect the economy to maintain high growth rates in the range of 4.7-5.0% next month, followed by a slight decline to 4.5-4.8% at the end of the year. This will also be affected by improving business conditions, good demand for goods and services from the population, a boom in the construction industry and a stable situation in foreign markets.

However, there are still risks from the deterioration of the geopolitical situation, falling oil prices due to insufficient demand and accelerated price growth within the country.

We expect annual economic growth at the level of 3.9-4.2% from 2024. One of the main engines of such growth will be the hydrocarbon sector due to the expansion of oil fields and an increase in oil production, alternative routes in supply chains, as well as the introduction of new production facilities as part of the national development plan implementations.

Klara Seidakhmetova

Senior Analyst

09 October 23

333

How not to be unemployed: what you need to know about the future labour market

Experts of the World Economic Forum (WEF) presented new forecasts for business, professions and skills development in the next 5 years. The study is based on surveys of the largest employers and their expectations regarding business development, professions and skills. The survey involved 803 companies employing more than 11.3 million people, covering 27 industry clusters and 45 economies worldwide.

Key insights:

  • Employers expect structural changes in 23% of jobs;
  • The "green" economy is the main source of new jobs;
  • Economic challenges are the greatest threat to the labour market;
  • Advanced technologies will remain a key driver in business transformation;
  • About 75% of the surveyed companies plan to implement AI by 2027;
  • Up to 43% of all business tasks will be performed by machines in the coming 5 years;
  • The most popular profession is artificial intelligence and machine learning specialists;
  • Analytical thinking is a key skill for a successful career;
  • 47% of the surveyed employers evaluate their skills when selecting candidates, and 45% require a diploma;
  • In the next five years, 44% of the basic skills of employees will become obsolete and 6 out of 10 employees will have to undergo training.

Periodic Researches


Businesslabour marketAlexandra Molchanovskaya

06 September 23

1629

Financial analytics: How much do we spend on routine expenditures?

We face a variety of expenses that vary depending on our needs, circumstances and preferences in our daily lives. Some people need quality food, others need to repay loans regularly and for some entertainment and recreation become a priority. However, the question often arises: Do we have enough income to meet all these needs? What amount of money is needed to achieve a comfortable standard of living? Is it possible to classify yourself as middle class by your expenses? 

In this regard, we decided to analyze the core expenditures that each person or family needs to achieve a minimum level of comfort and meet basic life needs. As a result of the study, we divided the employees of Astana and Almaty cities into 6 groups depending on their income and expenses and also determined the size of each class: the least well-off, low-income, lower middle class, middle class, prosperous and well-off. 

Key insights:

  • An average of 246.3 thousand tenge or 60% of salary is spent on core expenditures every month.
  • The largest amount of daily expenses is observed in the first 4 days after receiving a wage.
  • At least 450 thousand tenge per month is required to satisfy all basic needs for a comfortable life in megapolicies.
  • Almost half of the employed in Astana and Almaty cities (49%) do not have enough earnings to cover their daily expenses.
  • The is an essential disparity between workers and cities - there are 4 times more workers with financial difficulties in Almaty than in the capital.
  • Only 4.4% of employees with wages from 700 thousand to 1.2 million tenge, whose daily expenses account for 40-50% of income, can be attributed to the middle class.
  • Employees with above-average incomes make up the smallest share of the employed population - 2%. 

One-off Researches


ConsumptionStandard of livingAlexandra Molchanovskaya

Sign Up for the Most Helpful Mailing List