IMF speaks positively on Kazakhstan, points challenges.

By bne IntelliNews December 14, 2010
The IMF noted that the Kazakh economy is now recovering but the recovery need to be more broad based in order to be sustainable. The IMF also stressed that the domestic demand and needs to be supported by strengthening efficient financial intermediation, in addition to economic diversification. Moreover, according to the fund, the acute phase of the financial crisis passed by the banking and the corporate sectors did not recover fully. The IMF also recommended to monitor inflation closely. Moreover, according to the fund, the greater exchange rate and lower NBKs intervention in the foreign exchange market would serve the economy. The IMF welcomed that medium-term budget planning but stressed the need to secure fiscal sustainability by balancing rising spending against the need to avoid notable increase in non-oil-sector taxes. Worth noting, IMF expects Kazakh GDP to grow by 5% y/y this year due to recovery in oil prices.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Kazakhstan in talks with McDonald's.

Kazakhstan is in talks over McDonald's enter to the Kazakh market, President of the Eurasian Franchising Association, Beknur Kissikov has said. He added that the main reasons that McDonald's is ... more

Kazakhstan to establish institute for energy and energy effectiveness.

Kazakhstan will establish institute for energy and energy effectiveness, deputy PM and Minister of Industry and New technologies Aset Isekeshev has informed. The new entity should start operating ... more

Kazakhstan to diminish oil products imports from Russia.

Kazakhstan plans to diminish oil products imports from Russia, according to Kuandyk Kulmurzin Director of oil industry development department in Oil and Gas Ministry. He explained that the reason ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Russia’s war economy boosted by rising oil prices
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss