Kazakhstan’s cement industry has come a long way with the modernisation of existing and construction of new cement plants. Effective government support measures and housing construction helped cement output reach a record high in 2020, but challenges persist as economic development and demand growth lag behind production capabilities. By CMPRO, Russia, and QazCem, Kazakhstan.
In August 2020 the government of Kazakhstan presented the country’s Forecast of Socio-Economic Development covering the 2021-25 period. Depending on external and internal conditions, three scenarios of economic growth were devised. In the baseline scenario, real GDP growth is projected to be 2.8 per cent in 2021 and 4.6 per cent in 2025.
When forming the 2021-23 budget, the following forecast indicators were adopted:
• real GDP growth of 2.8 per cent in 2021, 3.7 per cent in 2022 and 4.6 per cent in 2023
• inflation of 4-6 per cent in 2021-22 and 4-5 per cent in 2023
• oil production at 86Mt in 2021, 89.6Mt in 2022 and 100.8Mt in 2023.
