Publication: Kazakhstan Growth Slows as External Pressures Rise : Kazakhstan Economic Update, Fall 2014
Date
2014-09-30
ISSN
Published
2014-09-30
Author(s)
World Bank Group
Abstract
Kazakhstan is experiencing slower
economic growth in 2014 due to negative supply- and
demand-side effects. The Kazakh authorities are using
expansionary fiscal and monetary policies to stimulate
domestic demand. An uncertain global economic environment
and regional geopolitical tensions pose risks to the
economic outlook of Kazakhstan. If the economic slowdown
starts to have a negative effect on the labor market, the
government has instruments to mitigate its impact on the
most vulnerable population. The government has identified a
set of reforms that are expected to help diversify the
economy and expand the non-oil sector. They have launched a
major program of support for the development of small- and
medium-sized enterprises, including by addressing the
constraints related to access to credit. They are also
working to improve the national regulatory and governance
framework that will enhance the transparency and efficiency
of economic transactions, facilitate private sector
participation, and improve service delivery to the
population. Ongoing reforms in customs administration and
the courts are part of its reform agenda.
Citation
“World Bank Group. 2014. Kazakhstan Growth Slows as External Pressures Rise : Kazakhstan Economic Update, Fall 2014. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/20670 License: CC BY 3.0 IGO.”