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...

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Bibliographic Details
Main Author:	World Bank
Format:	Economic Updates and Modeling
Language:	English en_US
Published:	World Bank, Washington, DC 2014
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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Summary:	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.

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

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