Kazakhstan Economic Update, Fall 2015

Kazakhstan’s economy faces the challenge of adjusting to a large terms-of-trade shock in a context of declining domestic and external demand. The authorities responded to the collapse of global oil prices through a rapid fiscal adjustment followed by corresponding monetary and exchange-rate policy adjustments. A difficult external environment will continue to affect Kazakhstan’s medium-term outlook. In the medium term, the economy continues to face significant downside risks, including the possibility of delays in Kashagan offshore oil production or a protracted recession in Russia and a further slowdown in China. Over the longer term, diversification of the economy will be required to increase its resilience to external shocks.

Bibliographic Details

Main Author:	World Bank Group
Format:	Report biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2015-11-30
Subjects:	TAX INCENTIVES, DEBT SOURCE, TARIFFS, REPO AUCTIONS, MONETARY POLICY, DEFICIT, DEPOSIT, DEBT ACCUMULATION, LIABILITY, OIL PRICE, NPL, ACCOUNTING, DEPOSITS, FOREIGN DIRECT INVESTMENTS, STOCK, FOREIGN INVESTORS, VALUATION, REPO, INTEREST, GUARANTEES, DEBT CRISIS, DEBT STOCK, INTEREST RATE, EXCHANGE, BANKING SYSTEM, BALANCE OF PAYMENTS, ECONOMIC DEVELOPMENTS, LIQUIDITY, DEVELOPING COUNTRIES, DOMESTIC MARKET, INFRASTRUCTURE DEVELOPMENT, REVENUES, PORTFOLIO, MORTGAGE, DEVALUATION, LOAN, CAPACITY BUILDING, BORROWERS, CAPITAL STOCK, TAX, RESERVE, MARKET ACCESS, WEALTH EFFECT, INVESTMENT REGIME, ASSET POSITION, INFLATION, PENSION, DEBT BURDEN, INSTRUMENTS, REPAYMENT SCHEDULE, BANK LENDING, BUDGET, MARKET PARTICIPANTS, CENTRAL BANK, FOREIGN MARKETS, LABOR MARKET, OIL PRICES, INVESTMENT SPENDING, CURRENCY, TELECOMMUNICATIONS, BANK ASSETS, CAPITAL FORMATION, INFLATIONARY PRESSURES, STATE GUARANTEES, INTEREST RATES, CAPITAL OUTFLOWS, MARKETS, DEBT, PRIVATE INVESTMENT, BOND ISSUE, INFLATION RATE, SETTLEMENT, BUDGET DEFICIT, SHORT-TERM CAPITAL, LOANS, DIRECT INVESTMENT, RESERVES, CREDIT PROGRAMS, PORTFOLIO INVESTMENTS, DEBT SERVICE, RULE OF LAW, LEGAL FRAMEWORK, FINANCE, TAX POLICIES, PUBLIC INVESTMENT, BANKING SECTOR, FLOATING EXCHANGE RATE, FISCAL DEFICIT, EXPENDITURE, REPO MARKET, AUCTIONS, EMERGING MARKETS, EQUITY, TRANSACTION, NATIONAL SECURITY, INVESTORS, DEBT PAYMENTS, HUMAN CAPITAL, RATES OF INFLATION, DOMESTIC MARKETS, INTERNATIONAL TRADE, TRANSPARENCY, FINANCIAL CRISIS, MARKET PRICES, FOREIGN DIRECT INVESTMENT, FIXED CAPITAL, BUDGETS, PURCHASING POWER, FOREIGN INVESTMENT, OVERNIGHT REPO, INVESTOR CONFIDENCE, INVESTMENT PROJECTS, CONTRACT, BANK BALANCE SHEETS, REPAYMENT, EXPENDITURES, AMORTIZATION, CAPITAL FLOWS, FINANCIAL ASSET, SHARES, REAL EXCHANGE RATE, MARKET, FOREIGN EXCHANGE, NET DEBT, LOANS TO INDIVIDUALS, NON-PERFORMING LOAN, INVESTMENT POLICY, PUBLIC DEBT, MARKET INTEREST RATES, LONG-TERM INVESTMENTS, HOLDINGS, GOVERNMENT DEBT, ECONOMIC DEVELOPMENT, INVESTOR, GOODS, TIME DEPOSITS, MARKET SHARE, SECURITY, ASSET-LIABILITY MISMATCHES, STOCKS, REPO RATE, DEBT INSTRUMENTS, STOCK EXCHANGE, NATIONAL BANK, INVESTMENT, BOND, EUROBOND, HOST COUNTRY, SHARE, BALANCE SHEETS, POVERTY, TARIFF, POLITICAL STABILITY, FINANCIAL ASSETS, BID, REVENUE, REINVESTMENT, MONEY MARKET, EXTERNAL DEBT, TAX POLICY, INVESTMENTS, SHARE OF INVESTMENTS, LENDING, CONSUMER PRICE INDEX, CREDIT GROWTH, SWAPS, PENSION FUND, TRANSITION ECONOMIES, MACROECONOMIC POLICIES, DEBT SWAP, EXCHANGE RATE, INSTRUMENT, PUBLIC DEBT STOCK, REMITTANCES, PUBLIC SPENDING, PROFITS, CAPITAL INVESTMENT, DIRECT INVESTMENTS, LIABILITIES, SWAP, NONPERFORMING LOANS, CORPORATE INSOLVENCY, EXTERNAL BORROWING,
Online Access:	http://documents.worldbank.org/curated/en/2015/12/25509374/kazakhstan-adjusting-lower-oil-prices-challenging-times-ahead-biannual-economic-update-fall-2015 https://hdl.handle.net/10986/23236
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