Republic of Kazakhstan: 2018 Article IV Consultation-Press Release; and Staff Report

September 14, 2018

Preview Citation

Format: Chicago

Republic of Kazakhstan: 2018 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2018) accessed November 6, 2024

Also available in: русский

Summary

This 2018 Article IV Consultation highlights that growth has strengthened in Kazakhstan supported by higher oil production and increased activity in trade and manufacturing. Robust exports have contributed to an improvement of the external current account. Inflation has declined and remained within the target band of the National Bank of Kazakhstan (NBK). This, along with anchoring of inflationary expectations, has allowed the NBK to undertake several interest rate cuts. Growth is expected to remain solid, although there are risks. Overall growth will likely slow as the increase of oil production moderates, but non-oil growth should increase further over the medium term, reflecting structural reforms and financial repair and deepening.

Subject: Banking, Commodities, External debt, Fiscal policy, Fiscal stance, Oil, Oil prices, Public debt, Revenue administration

Keywords: Aqsay, Banking sector, Central Asia, CR, Exchange rate, Fiscal stance, Global, Government, IMF TA, Interest rate, ISCR, Kazakhstani authorities, Money-market rate, NBK note, NBK policy rate, NBK securities, Oil, Support risk, Target band of the National Bank of Kazakhstan

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/277
Stock No:

1KAZEA2018001
ISBN:

9781484376881
ISSN:

1934-7685

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