Republic of Kazakhstan : Selected Issues

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

May 9, 2017

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This Selected Issues Paper evaluates Kazakhstan’s oil rules, current fiscal stance, and long-term sustainability. The sharp and sustained drop in oil prices since 2014 has reduced the value of Kazakhstan’s oil wealth. Kazakhstan’s non-oil deficit path has been higher than suggested by long-term benchmarks, and adjustment is needed in the coming years to avoid fiscal sustainability risks and to promote intergenerational equity. Price-based fiscal rules can help anchor short- and medium-term fiscal policy. The non-oil deficit path introduced in the new National Fund of the Republic of Kazakhstan concept is broadly consistent with the proposed approach and should be followed by timely and decisive implementation of revenue and expenditure measures.

Series:

Country Report No. 17/109

Subject:

English

Publication Date:

May 9, 2017

ISBN/ISSN:

9781475598759/1934-7685

Stock No:

1KAZEA2017002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

61

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