Publication:
Kazakhstan Economic Update, Spring 2023: Economic Recovery During Challenging Times

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-06-27T17:59:47Z
dc.date.available2023-06-27T17:59:47Z
dc.date.issued2023-06-27
dc.description.abstractKazakhstan’s economy is set to experience a moderate growth acceleration, with real GDP forecast to rise by 3.5 percent in 2023 and 4 percent in 2024, propelled by the hydrocarbons sector, as oil production increases. Inflation has surged to its highest level since the late 1990s due in part to wage increases across sectors and crisis-related fiscal measures. Inflation is expected to remain high in 2023 due to elevated food prices and prices of imported intermediate goods. The outlook for growth faces several downside risks. Any further disruptions to the operation of the Caspian Pipeline Consortium could lead to losses in production volumes and fiscal revenues, posing downside risks to growth. The persistent high domestic inflation is a serious challenge, particularly for the most vulnerable households, and could potentially amplify the risk of social tensions. Additional tightening of global financial conditions due to geopolitical tensions, energy crisis, and high inflation may pressure the exchange rate, leading to potential capital flow volatility.en
dc.identifierhttp://documents.worldbank.org/curated/en/099319004172398510/IDU0336efa090a5ea047bc09e560dd1e8a21f03f
dc.identifier.doi10.1596/39933
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39933
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectINFLATION
dc.subjectFINANCIAL SECTOR
dc.subjectFISCAL POLICY
dc.subjectECONOMIC SANCTIONS
dc.subjectTRADE
dc.titleKazakhstan Economic Update, Spring 2023en
dc.title.subtitleEconomic Recovery During Challenging Timesen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleKazakhstan Economic Update, Spring 2023: Economic Recovery During Challenging Times
okr.date.disclosure2023-06-27
okr.date.lastmodified2023-04-17T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/099319004172398510/IDU0336efa090a5ea047bc09e560dd1e8a21f03f
okr.guid099315504242342241
okr.guid099319004172398510
okr.identifier.docmidIDU-336efa09-a5ea-47bc-9e56-dd1e8a21f03f
okr.identifier.doihttp://dx.doi.org/10.1596/39933
okr.identifier.externaldocumentum34043541
okr.identifier.internaldocumentum34043541
okr.identifier.report181259
okr.import.id954
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099319004172398510/pdf/IDU0336efa090a5ea047bc09e560dd1e8a21f03f.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryKazakhstan
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Inflation
okr.topicInternational Economics and Trade::Trade and Regional Integration
okr.unitEFI-ECA-MTI-MacroFiscal-1 (EECM1)
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