Impact of consumer lending on the economy of Kazakhstan

Abstract

The economy is hugely influenced by macroeconomic parameters that include GDP per capita, average annual wages of employees, external debt and the volume of loans taken for consumer purposes. Given that the economic conditions of different countries of the world have been considered, the main indicators that are interrelated with the prevalence of loans in the economy aimed at meeting the needs of the population have been identified. Before 2020, consumer lending was not particularly in demand, yes there was no necessary base for large-scale use, which would satisfy the population. In addition, second-tier banks spent a lot of time servicing the corporate sector, which provided greater benefits than consumer lending.

Based on the statistical data from 2007 to 2023, a linear model was formed using external debt and GDP indicators. At the same time in the study to confirm the hypothesis, the work on the impact on the economic activity of countries due to the existing debt by countries of the world was carried out to confirm the hypothesis.

After all, the growth in the volume of loans to meet the needs of the population, gives the opportunity to develop business, income of companies, which, as a result, allows to increase the economic performance of the country. Along with the global trends in the development of countries should not forget about the existing problems in the use of loans for consumer purposes. These include, first of all, security of borrowers' data in the existing databases, solvency of the population taking loans and in this connection receiving a large volume of overdue payments.

On the basis of the formed model the forecast of development for three years of loans issued for consumer purposes is made. The conclusion provides the main conclusions and proposals that will contribute to the development of consumer lending