We present the results of the 11th Kazakhstani edition of the survey of CEOs of the largest companies in the world, conducted as part of the 26th Global PwC CEO Survey. 4,410 private business CEOs from 105 countries took part in the global survey and 68 CEOs from Kazakhstan this year.
The main focus of this year's survey is on the analysis of the actions and measures that leaders are forced to take as a result of the changes and shocks that have occurred in 2022. Having not fully recovered from the effects of the COVID-19 pandemic, businesses are facing new global challenges.
The leaders of companies operating in Kazakhstan assess the development of the global economy in different ways in 2023: 32% predict growth, and 37% expect it to decline. While our global survey has shown that 73% of CEOs surveyed predict a slowdown in global economic growth. Kazakhstani business leaders attribute their optimistic expectations to China's post-pandemic economic recovery and the USA’s inflation control. However, the global situation remains tense due to the ongoing geopolitical conflict between Russia and Ukraine, which is causing disruptions in supply chains, contributing to inflation and an energy crisis around the world.
Despite ongoing geopolitical conflicts, 62% of our respondents expect Kazakhstan's economy to grow. According to the survey, this attitude is due to the potential of Kazakhstan, the stabilization of the domestic political situation, the increase in business activity and geographical location.
According to the results of the survey, the greatest concern among Kazakhstani leaders in terms of business threats is caused by geopolitical conflicts (66%), inflation (40%) and cyber risks (35%). Due to the current uncertainty, Kazakhstani entrepreneurs have focused more on business sustainability rather than its growth, mainly through spending optimization.
The ESG agenda is gaining momentum around the world: 21% of surveyed executives in Kazakhstan are planning to invest in the decarbonization of their business model, which is 10% less than according to the plans of respondents globally (31%). There is also a significant difference in investment plans for alternative energy sources: only 14% of Kazakhstani leaders are planning to invest in this area compared to 34% of CEOs globally.
The supremacy of law in all spheres of state activity remains, according to business, the main priority of public administration. Like last year, this priority was noted by 51% of respondents. The efficiency of achieving this goal is slowly growing and is 10% against 7% last year. The fight against corruption, infrastructure development, qualified personnel, the predictability of the macroeconomic environment and investment attractiveness were also noted as key priorities on which the state should focus.
We would like to express our deep gratitude to each participant in our survey who took the time to meet in person and online and complete the questionnaire. We hope that the result of our joint efforts will contribute to a deeper understanding and cooperation between private business and the state and will also allow us to take into account the current problems and expectations that take place in the real sector of the economy of Kazakhstan.
