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Kazakhstan Economic Update, Summer 2021: Turning the Tide on the COVID-19 Crisis

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dc.contributor.authorWorld Bank
dc.date.accessioned2021-07-14T17:38:09Z
dc.date.available2021-07-14T17:38:09Z
dc.date.issued2021-06
dc.description.abstractKazakhstan’s economy started to recover in the second half of 2020, although real GDP is still lower than pre-COVID-19. After suffering the worst contraction in the past two decades, Kazakhstan’s real GDP rebounded in the third quarter of 2020, and growth has extended to the first quarter of 2021. Real GDP in Q1 2021 grew moderately at 1.9 percent in seasonally adjusted terms relative to the Q4 last year. The external environment has generally improved and lifted the value of Kazakhstan’s exports by about 5.8 percent in Q1 2021 compared with Q4 2020 in seasonally adjusted terms. In Q1 2021, China experienced a faster-than-expected economic rebound, while the euro area suffered another dip due to the COVID-19 resurgence. This update features findings on factors affecting the slow productivity growth among Kazakh firms, one of the critical development challenges. Productivity matters to sustain long-term growth and improve the standard of living. Findings from firm-level data analysis suggest a muted contribution of firms’ upgrading capability (innovation, managerial), poor allocative efficiency, and limited contribution from entry and exit dynamics. The authorities should consider coordinating policies to improve productivity growth by ensuring competition in the product market, reducing barriers for firms to entry in sectors dominated by state-owned enterprises, improving the effectiveness of investment policy and promotion, and boosting firms’ capability to innovate. Also, revisiting distortive support programs for firms should be reconsidered to avoid perpetuating inefficiencies in firms.en
dc.identifierhttp://documents.worldbank.org/curated/en/113911624600174488/Turning-the-Tide-on-the-COVID-19-Crisis
dc.identifier.doi10.1596/35903
dc.identifier.urihttps://hdl.handle.net/10986/35903
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC RECOVERY
dc.subjectCORONAVIRUS
dc.subjectCOVID-19
dc.subjectPANDEMIC IMPACT
dc.subjectINEQUALITY
dc.subjectBALANCE OF PAYMENTS
dc.subjectMONETARY POLICY
dc.subjectFISCAL TRENDS
dc.subjectECONOMIC OUTLOOK
dc.subjectRISKS
dc.subjectPANDEMIC RESPONSE
dc.subjectPUBLIC PERCEPTION
dc.titleKazakhstan Economic Update, Summer 2021en
dc.title.subtitleTurning the Tide on the COVID-19 Crisisen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleKazakhstan Economic Update, Summer 2021
okr.date.disclosure2021-06-25
okr.date.doiregistration2025-05-07T11:24:28.921304Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/113911624600174488/Turning-the-Tide-on-the-COVID-19-Crisis
okr.guid113911624600174488
okr.guid890971624952007527
okr.identifier.externaldocumentum090224b088751caf_2_0
okr.identifier.internaldocumentum33212921
okr.identifier.report161006
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/113911624600174488/pdf/Turning-the-Tide-on-the-COVID-19-Crisis.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryKazakhstan
okr.topicHealth, Nutrition and Population::Disease Control & Prevention
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicPoverty Reduction::Inequality
okr.unitECA Regional Director (SCADR)
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