Republic of Kazakhstan: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 240

Publication date: July 2005

ISBN: 9781451820966

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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.

Economics- Macroeconomics , Money and Monetary Policy , Taxation - General , Industries - Energy , ISCR , CR , tenge , exchange rate , deficit , revenue , purchasing power parity , oil sector , oil wealth , bank lending , sector growth , growth path , CIS economy , Real exchange rates , Oil , gas and mining taxes , Bank credit , Global

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Summary

This Selected Issues paper on the Republic of Kazakhstan underlies growth of the non-oil sector, fiscal management of oil wealth, and bank credit growth. The share of tradables in the non-oil sector has declined significantly, both in terms of value added and employment, while many nontradable activities, especially services and construction, have expanded. Kazakhstan can sustain non-oil deficits of more than 5 percent of GDP in the near term without reducing the value of oil wealth. Recent developments in the pattern of bank lending and borrowing have led to increased exposure to the property sector and international financial markets.