Republic of Kazakhstan: 2017 Article IV Consultation- Press Release; and Staff Report

May 9, 2017

Preview Citation

Format: Chicago

Republic of Kazakhstan: 2017 Article IV Consultation- Press Release; and Staff Report, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Also available in: русский

Summary

This 2017 Article IV Consultation highlights growth in Kazakhstan expected to strengthen to 2.5 percent in 2017 after a slowdown in 2016, reflecting higher oil production and the effect of substantial fiscal stimulus spending. The sharp exchange rate depreciation in late 2015 and early 2016 triggered a surge in consumer prices, but inflation has come down to levels consistent with the National Bank of Kazakhstan’s target range. The medium-term outlook has improved; growth in the non-oil sector is expected to pick up gradually to 4 percent, benefiting from structural reforms and a resumption of bank lending. Uncertainty is high, however, because the economy remains vulnerable to commodity price swings and especially to a sustained decline in oil prices.

Subject: Banking, Commodities, External debt, Financial institutions, Fiscal policy, Fiscal stance, Loans, Oil, Oil prices, Prices

Keywords: Authorities' flagship, Authorities move, Authority, Central Asia, CR, Exchange rate, IMF TA, ISCR, Loans, NBK policy rate, Oil, Oil prices, State support

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/108
Stock No:

1KAZEA2017001
ISBN:

9781475598704
ISSN:

1934-7685

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