IMF Staff Country Reports

Republic of Kazakhstan: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Kazakhstan

February 7, 2024

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Republic of Kazakhstan: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Kazakhstan, (USA: International Monetary Fund, 2024) accessed December 22, 2024

Summary

Growth is estimated to have reached 4.8 percent in 2023 and is projected to slow to 3.1 percent in 2024. Inflation declined to 9.8 percent in 2023, still well above the National Bank of Kazakhstan (NBK)’s target of 5 percent. Risks to the outlook are tilted to the downside. The state’s footprint in the economy remains large and structural reform implementation has been slow in recent years. Despite strong buffers, the economy needs to be better prepared for future shocks in both the short term (e.g., from war spillovers, inflation, and global economic and financial conditions) and the medium term (e.g., from geo-economic fragmentation, climate events, and global decarbonization).

Subject: Economic and financial statistics, Financial Sector Assessment Program, Financial sector policy and analysis, Financial soundness indicators, Fiscal policy, Fiscal stance, Government finance statistics, Inflation, International organization, Monetary policy, Prices

Keywords: Adjusted inflation indicator, CBDC bank cards, Central Asia and the Caucasus, Financial Sector Assessment Program, Financial soundness indicators, Fiscal stance, Global, Government finance statistics, IMF TA, Inflation, Monetary policy committee, Quasi-government entity, State social insurance Fund

Publication Details

  • Pages:

    64

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2024/046

  • Stock No:

    1KAZEA2024001

  • ISBN:

    9798400267567

  • ISSN:

    1934-7685

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