Famous Kazakh Economy Observer Aidarkhan Kusainov shares view on the growth and drop down in incomes earned by people of Kazakhstan in 2022 and gives a negative forecast for 2023.

In his Telegram – channel, Mr. Kusainov gives his rather gloomy view.  Literal translation below:

“…n 202, nominal income in constant terms dropped down by 1%, which is a record in the last 13 years. On 13 March, quarterly data were made available, which allows to take a look at dynamics and assess the prospects.

The Schedule above shows that the growth of all types of income – nominal, contingent valuation income, median income and consumer income, showed consistent drop down, quarter after quarter, in the previous year.  Consumption incomes, which form a specifically important factor for retail and consumer trade, dropped down in the Q3 to the level of pandemic reduction.  In Q4, they several fold exceeded peak values of the pandemic period. 

Given data for January 2023, Q1 shall not better than Q4 of 2022, which means that aggregately (March 2022-March 2023), consumption incomes shall drop down several fold, compared to the pandemic period…”