The growth of the country’s economy in the first half of 2021 was 2.2% compared to the same period last year. Thus, we can talk about the beginning of the recovery, although adjusted for the effect of the low base. At the same time, the new lockdown may cancel out the beginning of the positive dynamics of the country’s real GDP, according to the July macroeconomic review on the situation in Kazakhstan from the Applied Economics Research Center (AERC), the correspondent of the business information center Kapital.kz reports .

At the same time, AERC analysts focus on the continuing rise in consumer prices. They note that the government is trying to curb the rise in prices for socially important food products with short-term measures – the creation of stabilization funds and the provision of interest-free loans from local budgets to retail chains. However, these measures were found to be ineffective. At the same time, experts state that real estate prices are also growing at a significant pace: in June, the price index for the sale of new housing increased by 12.6% in annual terms, and the price index for the resale of comfortable housing – by 24.9%.

In its review, AERC is based on the following prerequisites: the price of Brent crude oil will develop on average for 2021 at $ 65 per barrel; the economies of the trading partner countries will grow by 4.9%; the volume of oil and gas condensate production in Kazakhstan will be 86 million tons.