Republic of Kazakhstan: Selected Issues

IMF Staff Country Reports, June 28, 2011

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Republic of Kazakhstan: Selected Issues

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Bibliographic details

• Published: June 28, 2011
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781455288632.002

Summary and context

• Trade was initially undermined by a severe recession.
• Kazakhstan is facing increased challenges from higher global commodity prices.
• An encompassing policy response is needed to control inflation and mitigate the scope for second-round price effects.
• The increase of trade openness in the 2000s coincided with Kazakhstan becoming a major oil producer and exporter.
• A number of issues still need to be resolved to achieve free trade of goods and services within the borders of the union.

Key findings and themes

• Trade and recession:
  • Trade was also initially undermined by a severe recession.
• Commodities and prices:
  • Kazakhstan is facing increased challenges from higher global commodity prices.
  • Policy emphasis on controlling inflation and preventing second-round price effects.
• Trade openness and oil:
  • The increase of trade openness in the 2000s coincided with Kazakhstan becoming a major oil producer and exporter.
• Regional integration:
  • A number of issues still need to be resolved to achieve free trade of goods and services within the borders of the union.

Policy recommendations and implications

• Implement an encompassing policy response to:
  • Control inflation.
  • Mitigate the scope for second-round price effects.
• Address outstanding issues to enable free trade of goods and services within the union.

Metadata and classification

• Subject: Commodities, Customs unions, Imports, Inflation, International trade, Oil, Prices, Tariffs, Taxes
• Keywords: capital formation, Central Asia, CR, Customs unions, food price shock, Global, Imports, Inflation, inflation expectation, ISCR, Kazakhstan, Kazakhstan's trade, Oil, oil sector, oil wealth, price, Tariffs, trade, trade openness, trade tariff
• Publication date: June 28, 2011
• Pages: 41
• Volume: 2011
• Issue: 151
• Series: Country Report No. 2011/151
• DOI: https://doi.org/10.5089/9781455288632.002
• Stock No: 1KAZEA2011002
• ISBN: 9781455288632
• ISSN: 1934-7685

Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-kazakhstan-selected-issues-24998

Content in this bundle

• Republic of Kazakhstan: Selected Issues; IMF Country Report 11/151; June 2, 2011
  • Republic of Kazakhstan: Selected Issues; IMF Country Report 11/151; June 2, 2011 (Markdown version)
  • Republic of Kazakhstan: Selected Issues; IMF Country Report 11/151; June 2, 2011 (PDF)