The government will largely provide internal stability in the country’s economy in 2012. Stability will be observed in many economic sectors. Domestic investment in the banking sector may grow as well.

Kazakhstan’s economy will continue to grow in 2012. According to international experts, the growth will be at the level of 6-6.5%. The accumulated safety margin and the government’s attention will determine macroeconomic stability. It is recommended to invest in technology-based projects for further growth.

Natalia Novikova, Economist for Russia and CIS at Citibank:
- You have to understand that there should be investments not only in infrastructure but also in technologies that will underpin the country’s competitiveness to have Kazakhstan’s growth remain high in the long term perspective. If we focus only on consumer spending, it will have a short-term effect lasting for 1 to 1.5 years. Therefore, it is necessary to have a combination that will enable us to achieve these long-term and high growth rates.

According to analysts, government funding will neutralize the impact of a possible second wave of crisis on the Kazakh economy. In particular, this is all about economic entities involved in service, infrastructure projects, as well as industries focused on consumer demand. In addition, experts noted, that the government can provide substantial assistance to the banking sector.

Natalia Novikova, Economist for Russia and CIS at Citibank:
- So ideally this assistance should be aimed at cleaning up the banks’ balance sheets and helping them by providing sufficient tools for refinancing, so they have liquidity as well as to ensure macroeconomic stability.

According to experts, the recovery in demand for banking services will be possible by ensuring a stable rate of inflation. Improvements in the legislation will also contribute to a natural growth of domestic investment inflow.