Kazakhstan : Solid Growth, Unsettled Global Environment - Kazakhstan Economic Update, Fall 2013

While the world economy continues to be unsettled, economic growth in Kazakhstan has been solid. Strong domestic demand, coupled with increased oil output and favorable weather conditions, is likely to boost economic growth. An expansion of credit was the key driver of growth in private consumption and investment activity in 2013. Income growth in the country had a positive impact on poverty indicators, with prosperity shared broadly. Prudent macroeconomic policy has helped the economic performance. Prospects of additional oil output with Kashagan coming on stream will help boost economic activity in the coming years and increase Kazakhstan s vulnerability to external shocks unless the country succeeds in diversifying its endowments from natural resources to stronger institutions and higher quality human capital. In his recent speech on the strategic vision Kazakhstan-2050, the President of Kazakhstan highlighted the need to diversify the endowments of the country to achieve its development objectives. He reiterated the key development priorities for the country to become one of the top 30 developed countries by 2050. Trade policy will remain a central instrument to help the country integrate into the global economy, but Kazakhstan will face a complex trade policy environment in the medium-term.

Bibliographic Details

Main Author:	World Bank
Format:	Economic Updates and Modeling biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2013-10
Subjects:	ACCOUNTING, ADMINISTRATIVE PROCEDURES, AGGREGATE DEBT, AGRICULTURAL OUTPUT, AGRICULTURE, ALLOCATIVE EFFICIENCY, ASSETS, BALANCE OF PAYMENTS, BANKING SECTOR, BASE YEAR, BUDGET DEFICIT, BUDGETING, CAPACITY BUILDING, CAPITAL ADEQUACY, CAPITAL INFLOWS, CENTRAL BANK, CENTRAL BANKS, COMPETITION POLICY, COMPETITIVENESS, CONCEPTUAL FRAMEWORK, CONSOLIDATION, CONSUMER BASKET, CONSUMER CREDIT, CONSUMER LOANS, CONSUMER PRICE INFLATION, CONSUMERS, CONSUMPTION GROWTH, CREDIT EXPANSION, CREDIT GROWTH, CURRENCY, CURRENT ACCOUNT, CURRENT ACCOUNT BALANCE, CURRENT ACCOUNT DEFICIT, CURRENT ACCOUNT SURPLUS, CUSTOMS DUTY, CUSTOMS UNION, DEBT, DEPOSIT, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DOMESTIC DEMAND, DUTCH DISEASE, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC EXPANSION, ECONOMIC GROWTH, ECONOMIC INTEGRATION, ECONOMIC RESEARCH, ECONOMIC SUSTAINABILITY, EFFICIENT REGULATION, EMERGING MARKETS, EQUIPMENT, EXCHANGE RATE, EXCHANGE RATE FLEXIBILITY, EXCHANGE RATE POLICY, EXCHANGE RATES, EXOGENOUS SHOCKS, EXPENDITURE, EXPENDITURES, EXPORT REVENUE, EXPORT REVENUES, EXPORTERS, EXPORTS, EXTERNAL BALANCE, EXTERNAL DEBT, EXTERNAL DEMAND, EXTERNAL POSITION, EXTERNAL SHOCKS, EXTERNAL TRADE, FINANCIAL ASSETS, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FINANCIAL SECTOR, FINANCIAL SUPPORT, FINANCIAL SUSTAINABILITY, FISCAL BALANCE, FISCAL BALANCES, FISCAL POLICY, FISCAL REFORM, FIXED ASSETS, FIXED CAPITAL, FIXED INVESTMENT, FOOD PRICE, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGE RESERVES, FOREIGN INVESTMENT, FOREIGN MARKETS, FREE TRADE, FREE TRADE AGREEMENT, FREE TRADE AGREEMENTS, GDP, GDP PER CAPITA, GINI COEFFICIENT, GLOBAL ECONOMY, GLOBAL TRADE, GOLD, GOLD RESERVES, GOVERNMENT DEBT, GOVERNMENT REVENUE, GOVERNMENT SPENDING, GROSS DOMESTIC PRODUCT, GROWTH RATE, HUMAN CAPITAL, HUMAN DEVELOPMENT, HUMAN RESOURCE, IMPORT, IMPORTS, INCOME, INCOME GROWTH, INCOME TAX, INDUSTRIALIZATION, INFLATION, INFRASTRUCTURE DEVELOPMENT, INITIAL PUBLIC OFFERING, INSTITUTIONAL CAPACITY, INSTRUMENT, INSURANCE, INTERNATIONAL PRICES, INTERNATIONAL RESERVES, INTERNATIONAL TRADE, INVESTMENT ACTIVITY, INVESTMENT DECISIONS, IPO, ISSUANCE, JUDICIAL SYSTEM, JUSTICE SYSTEM, LABOR FORCE, LABOR MARKET, LIQUIDITY, LOAN, LOAN PORTFOLIO, LOCAL GOVERNMENTS, MACROECONOMIC PERFORMANCE, MACROECONOMIC POLICY, MACROECONOMIC STABILITY, MACROECONOMIC VOLATILITY, MARKET ACCESS, MARKET ECONOMY, MARKET RATES, METALS, NATIONAL BANK, NATURAL CAPITAL, NATURAL RESOURCE, NATURAL RESOURCES, NEGATIVE SHOCKS, NET EXPORTS, NOMINAL EXCHANGE RATES, NON-PERFORMING LOANS, NPL, OIL, OIL ECONOMY, OIL EXPORT, OIL EXPORTS, OIL PRICE, OIL PRICES, OIL REVENUE, OIL REVENUES, OIL SECTOR, PARTIAL PRIVATIZATION, PEG, PENSION, PENSION ASSETS, PENSION FUND, PENSION FUNDS, PENSION SYSTEM, PERSONAL INCOME, POLICY ENVIRONMENT, POLICY MAKERS, POPULATION GROWTH, PRICE INCREASE, PRICE INCREASES, PRICE OF OIL, PRIVATE CONSUMPTION, PRIVATE INVESTMENTS, PRODUCERS, PROPERTY TAXES, PUBLIC DEBT, PUBLIC DEBT STOCKS, PUBLIC FINANCE, PUBLIC INVESTMENT, PUBLIC SECTOR DEBT, PURCHASING POWER, PURCHASING POWER PARITY, REAL EXCHANGE RATE, REAL GDP, REGULATORY FRAMEWORK, REGULATORY PRACTICES, REGULATORY REFORM, REGULATORY SYSTEM, REMITTANCES, RESERVES, RETAINED EARNINGS, RETURN, RETURN ON ASSETS, RULE OF LAW, SECTOR REFORM, SLOWDOWN, STOCKS, STRUCTURAL REFORMS, SUSTAINABLE GROWTH, TARGET RANGE, TARIFF REVENUES, TAX, TAX RATES, TAX REGIMES, TAX SYSTEM, TERMS OF TRADE, TERRORISM, TOTAL CREDIT, TOTAL IMPORTS, TRADABLE GOODS, TRADE BALANCE, TRADE DISPUTES, TRADE DIVERSION, TRADE NEGOTIATIONS, TRADE PERFORMANCE, TRADE POLICY, TRADE REFORMS, TRADE STRATEGY, TRADE SURPLUS, TRADE SURPLUSES, TRANSPARENCY, TREATY, UNEMPLOYMENT, UNEMPLOYMENT RATE, WEIGHTS, WELFARE GAINS, WORLD ECONOMY, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO,
Online Access:	http://documents.worldbank.org/curated/en/2013/09/18508419/kazakhstan-solid-growth-unsettled-global-environment http://hdl.handle.net/10986/16688
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