IMF Staff Country Reports

Republic of Kazakhstan : 2017 Article IV Consultation- Press Release; and Staff Report

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

May 9, 2017

Electronic Access:

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

Summary:

This 2017 Article IV Consultation highlights growth in Kazakhstan expected to strengthen to 2.5 percent in 2017 after a slowdown in 2016, reflecting higher oil production and the effect of substantial fiscal stimulus spending. The sharp exchange rate depreciation in late 2015 and early 2016 triggered a surge in consumer prices, but inflation has come down to levels consistent with the National Bank of Kazakhstan’s target range. The medium-term outlook has improved; growth in the non-oil sector is expected to pick up gradually to 4 percent, benefiting from structural reforms and a resumption of bank lending. Uncertainty is high, however, because the economy remains vulnerable to commodity price swings and especially to a sustained decline in oil prices.

Series:

Country Report No. 17/108

Subject:

Article IV consultation reports Balance of payments statistics Debt sustainability analysis Economic indicators Exchange rate policy External shocks Financial sector Fiscal policy Fiscal reforms Kazakhstan Monetary policy Press releases Staff reports