What threats does the World Economic Forum predict for Kazakhstan?

Tengrinews.kz - The World Economic Forum (WEF) has released its Global Risks Report, highlighting potential future threats to Kazakhstan.
According to the WEF report, the country faces several possible risks:

Armed conflict (interstate, intrastate, proxy wars, coups etc.)
Economic downturn (such as recession or stagnation)
Water supply shortage
Poverty and income inequality
Inflation

Photo: WEF Global Risks Report 2025
Armed conflicts—ranging from interstate wars to proxy battles and coups—are identified by the WEF as one of the top 10 global risks over the next two years.

"This geopolitical risk ranks as the primary concern for executives in 12 countries, including Armenia, Israel, Kazakhstan and Poland, and features among the top five risks in an additional 11 economies, such as Egypt and Saudi Arabia. Executives who prioritize this risk frequently cite a high perception of related risks, including biological, chemical, or nuclear weapons or hazards and geoeconomic confrontation," the report states.

Previously, Kazakhstan’s National Bank warned of signs of economic overheating. This statement came after the short-term economic indicator accelerated to 6.2% year-on-year in 2024. The central bank also noted that inflationary risks remain present. External factors include higher inflation in Russia, while domestic risks stem from ongoing price regulation reforms, the impact of the weakening tenge on prices, strong domestic demand amid fiscal stimulus, unanchored inflation expectations, and rising consumer lending.