Republic of Kazakhstan: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Kazakhstan

Growth is estimated to have reached 4.8 percent in 2023 and is projected to slow to 3.1 percent in 2024. Inflation declined to 9.8 percent in 2023, still well above the National Bank of Kazakhstan (NBK)’s target of 5 percent. Risks to the outlook are tilted to the downside.
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Volume/Issue: Volume 2024 Issue 046
Publication date: February 2024
ISBN: 9798400267567
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , IMF TA , adjusted inflation indicator , CBDC bank cards , monetary policy committee , State social insurance Fund , quasi-government entity , Government finance statistics , Fiscal stance , Inflation , Financial Sector Assessment Program , Financial soundness indicators , Global , Central Asia and the Caucasus

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Summary

Growth is estimated to have reached 4.8 percent in 2023 and is projected to slow to 3.1 percent in 2024. Inflation declined to 9.8 percent in 2023, still well above the National Bank of Kazakhstan (NBK)’s target of 5 percent. Risks to the outlook are tilted to the downside. The state’s footprint in the economy remains large and structural reform implementation has been slow in recent years. Despite strong buffers, the economy needs to be better prepared for future shocks in both the short term (e.g., from war spillovers, inflation, and global economic and financial conditions) and the medium term (e.g., from geo-economic fragmentation, climate events, and global decarbonization).

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