IMF Staff Country Reports

Republic of Kazakhstan: 2018 Article IV Consultation-Press Release; and Staff Report

Publication Date:

September 14, 2018

Electronic Access:

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

Summary:

This 2018 Article IV Consultation highlights that growth has strengthened in Kazakhstan supported by higher oil production and increased activity in trade and manufacturing. Robust exports have contributed to an improvement of the external current account. Inflation has declined and remained within the target band of the National Bank of Kazakhstan (NBK). This, along with anchoring of inflationary expectations, has allowed the NBK to undertake several interest rate cuts. Growth is expected to remain solid, although there are risks. Overall growth will likely slow as the increase of oil production moderates, but non-oil growth should increase further over the medium term, reflecting structural reforms and financial repair and deepening.

Series:

Country Report No. 2018/277

Subject:

Banking Commodities External debt Fiscal policy Fiscal stance Oil Oil prices Public debt Revenue administration