Foreigners’ salaries in Kazakhstan higher than Kazakhs’ wages abroad

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ASTANA. KAZINFORM - The revenues of the foreigners working in Kazakhstan are much higher than the wages of Kazakhs working abroad, according to the Ranking.kz analytical service.

"In 3Q2014 the earnings of foreign citizens working in Kazakhstan exceeded the salaries of Kazakhstan's residents and citizens working abroad by $451.7 million," the analytical service's experts said.

"The balance of services is also negative," the analysts said. "Import of services exceeds the export by $1.7 billion."

Ranking.kz said the banks in Kazakhstan pay an average of 0.7 percent per annum on conditional deposits for foreign labor force, Kazinform has learnt from Trend.az.

In the segment of 15 second-tier banks, the potential size of the market stands at about 64,000 foreign workers, according to the analysts.

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