EDB expert provides outlook for national currency

The growing mutual trade will help Kazakhstan and Russia reduce the impact of external factors on the economy and strengthen the importance of national currencies, believes the Head of the Country Analysis Center at the Eurasian Development Bank Alexey Kuznetsov. The expert called forecasts of both governments to bring the trade turnover to more than US$20 billion by the end of the year quite realistic. The growth has already exceeded 30 percent, and there are no prerequisites for a slowdown of such rates. The bank also expects a record level of trade volumes within the union. They may surpass the pre-pandemic level by the end of December. Meanwhile, foreign trade indicators are still small – about 2 percent of the world market.

Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova