Kazakhstan - On the Crest of the Oil Wave : Kazakhstan Economic Update, Spring 2013
Economic growth slowed in 2012 due to capacity constraints in the oil sector, weaker global demand for metals, and unfavorable weather conditions affecting crop production. Overall, industrial output expanded by 0.5 percent in 2012, with negligible...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2015
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/03/18457759/kazakhstan-crest-oil-wave http://hdl.handle.net/10986/22126 |
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okr-10986-22126 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO FINANCING AGRICULTURE ASSET MANAGEMENT BALANCE DUE BALANCE OF PAYMENTS BALANCE SHEET BANK LENDING BANK LIQUIDITY BANKING SECTOR BANKING SYSTEM BASIS POINTS BUDGET BUDGET SURPLUS BUDGET SURPLUSES BUDGETING CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL ADEQUACY CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITALIZATION CENTRAL BANK CIVIL SERVICE COMMODITY PRICES COMPARATIVE ADVANTAGES COMPETITIVENESS CONFLICT OF INTEREST CONSUMER CHOICE CONSUMPTION CONTRACTS CREDIT RATING CREDITOR CURRENCY CURRENCY REGULATIONS CURRENT ACCOUNT SURPLUS CURRENT ACCOUNT SURPLUSES DEBT RESTRUCTURING DECENTRALIZATION DEMAND DEMAND DEPOSITS DEPOSITS DEVELOPMENT BANK DEVELOPMENT POLICY DEVELOPMENT STRATEGY DIRECT INVESTMENTS DISCOUNT DOMESTIC CREDIT DOMESTIC DEBT DOMESTIC SECURITIES ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC RESEARCH ENABLING ENVIRONMENT ENTERPRISES ENTREPRENEURSHIP EQUIPMENT EQUITY EXCESS SUPPLY EXCHANGE EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTER EXPORTERS EXPORTS EXTERNAL DEBT FINANCE FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FISCAL POLICY FISCAL YEAR FIXED CAPITAL FIXED INVESTMENT FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INVESTOR FREE TRADE FUTURE GDP GDP PER CAPITA GINI COEFFICIENT GOOD GOODS GOVERNANCE GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURES GOVERNMENT INVESTMENTS GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SECURITIES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH POTENTIAL GROWTH PROJECTIONS GUARANTEE HOUSING HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCES INCENTIVES INCOME TAX INDEBTEDNESS INDUSTRIALIZATION INDUSTRY INFLATION INFLATION RATE INFLUENCE INFRASTRUCTURE INFRASTRUCTURE DEVELOPMENT INITIAL PUBLIC OFFERING INITIAL PUBLIC OFFERINGS INPUTS INSOLVENCY REGIME INSTRUMENT INSTRUMENTS INSURANCE INSURANCE CORPORATION INTEREST INTEREST PAYMENTS INTEREST RATE INTERESTS INVESTING INVESTMENT INVESTMENT CLIMATE INVESTMENT FUND INVESTORS IPO JUDICIAL SYSTEM LABOR LABOR MARKET LEGISLATION LENDING LIABILITIES LIQUIDITY LIVING STANDARDS LOAN LOAN PORTFOLIO LOCAL BANKS LOCAL GOVERNMENT LONG-TERM INVESTMENTS MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMICS MARKET MARKET ECONOMY MARKET INDEX MARKET INFORMATION MARKET PARTICIPANTS MARKET SIZE MARKETS MATURITY MEASUREMENT MERITOCRACY MICROFINANCE MIGRATION MONETARY POLICIES MONETARY POLICY MONEY MONEY SUPPLY NATIONAL BANK NATURAL MONOPOLIES NATURAL RESOURCES NET EXPORTS NON-PERFORMING LOANS NPL OIL PRICE OIL PRICES OIL RESERVES OPTIONS OUTCOMES OUTSTANDING CREDIT PENSION PENSION FUND PENSION FUNDS PENSION REFORM PENSION RIGHT PENSION SYSTEM PENSION SYSTEM REFORM PENSIONS POOR ASSET QUALITY PORTFOLIO PORTFOLIO INVESTMENTS POVERTY PRICE INCREASES PRIVATE BANK PRIVATE INVESTMENTS PROBLEM LOANS PRODUCTION PROPERTY PUBLIC ASSETS PUBLIC DEBT PURCHASING POWER RATE OF RETURNS RATES OF RETURN REAL EXCHANGE RATE REAL GDP REAL INCOME RELIGIOUS SOCIETY REMITTANCES RESERVE RESERVE FUND RESERVES REVENUE REVENUES RISK AVERSION RULE OF LAW SAVINGS SECURITY SERVICES SHARE SHARES STOCK SWAP TARIFF TARIFF BARRIERS TARIFFS TAX EXEMPTIONS TAX RATES TAXES TOTAL REVENUE TRADE BALANCE TRADE BARRIERS TRADE DIVERSION TRADE POLICY TRADING TRUSTS UNEMPLOYMENT UNEMPLOYMENT RATE UTILITY WAGES WEALTH WITHDRAWALS WORLD TRADE ORGANIZATION WTO |
| spellingShingle |
ACCESS TO FINANCING AGRICULTURE ASSET MANAGEMENT BALANCE DUE BALANCE OF PAYMENTS BALANCE SHEET BANK LENDING BANK LIQUIDITY BANKING SECTOR BANKING SYSTEM BASIS POINTS BUDGET BUDGET SURPLUS BUDGET SURPLUSES BUDGETING CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL ADEQUACY CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITALIZATION CENTRAL BANK CIVIL SERVICE COMMODITY PRICES COMPARATIVE ADVANTAGES COMPETITIVENESS CONFLICT OF INTEREST CONSUMER CHOICE CONSUMPTION CONTRACTS CREDIT RATING CREDITOR CURRENCY CURRENCY REGULATIONS CURRENT ACCOUNT SURPLUS CURRENT ACCOUNT SURPLUSES DEBT RESTRUCTURING DECENTRALIZATION DEMAND DEMAND DEPOSITS DEPOSITS DEVELOPMENT BANK DEVELOPMENT POLICY DEVELOPMENT STRATEGY DIRECT INVESTMENTS DISCOUNT DOMESTIC CREDIT DOMESTIC DEBT DOMESTIC SECURITIES ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC RESEARCH ENABLING ENVIRONMENT ENTERPRISES ENTREPRENEURSHIP EQUIPMENT EQUITY EXCESS SUPPLY EXCHANGE EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTER EXPORTERS EXPORTS EXTERNAL DEBT FINANCE FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FISCAL POLICY FISCAL YEAR FIXED CAPITAL FIXED INVESTMENT FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INVESTOR FREE TRADE FUTURE GDP GDP PER CAPITA GINI COEFFICIENT GOOD GOODS GOVERNANCE GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURES GOVERNMENT INVESTMENTS GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SECURITIES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH POTENTIAL GROWTH PROJECTIONS GUARANTEE HOUSING HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCES INCENTIVES INCOME TAX INDEBTEDNESS INDUSTRIALIZATION INDUSTRY INFLATION INFLATION RATE INFLUENCE INFRASTRUCTURE INFRASTRUCTURE DEVELOPMENT INITIAL PUBLIC OFFERING INITIAL PUBLIC OFFERINGS INPUTS INSOLVENCY REGIME INSTRUMENT INSTRUMENTS INSURANCE INSURANCE CORPORATION INTEREST INTEREST PAYMENTS INTEREST RATE INTERESTS INVESTING INVESTMENT INVESTMENT CLIMATE INVESTMENT FUND INVESTORS IPO JUDICIAL SYSTEM LABOR LABOR MARKET LEGISLATION LENDING LIABILITIES LIQUIDITY LIVING STANDARDS LOAN LOAN PORTFOLIO LOCAL BANKS LOCAL GOVERNMENT LONG-TERM INVESTMENTS MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMICS MARKET MARKET ECONOMY MARKET INDEX MARKET INFORMATION MARKET PARTICIPANTS MARKET SIZE MARKETS MATURITY MEASUREMENT MERITOCRACY MICROFINANCE MIGRATION MONETARY POLICIES MONETARY POLICY MONEY MONEY SUPPLY NATIONAL BANK NATURAL MONOPOLIES NATURAL RESOURCES NET EXPORTS NON-PERFORMING LOANS NPL OIL PRICE OIL PRICES OIL RESERVES OPTIONS OUTCOMES OUTSTANDING CREDIT PENSION PENSION FUND PENSION FUNDS PENSION REFORM PENSION RIGHT PENSION SYSTEM PENSION SYSTEM REFORM PENSIONS POOR ASSET QUALITY PORTFOLIO PORTFOLIO INVESTMENTS POVERTY PRICE INCREASES PRIVATE BANK PRIVATE INVESTMENTS PROBLEM LOANS PRODUCTION PROPERTY PUBLIC ASSETS PUBLIC DEBT PURCHASING POWER RATE OF RETURNS RATES OF RETURN REAL EXCHANGE RATE REAL GDP REAL INCOME RELIGIOUS SOCIETY REMITTANCES RESERVE RESERVE FUND RESERVES REVENUE REVENUES RISK AVERSION RULE OF LAW SAVINGS SECURITY SERVICES SHARE SHARES STOCK SWAP TARIFF TARIFF BARRIERS TARIFFS TAX EXEMPTIONS TAX RATES TAXES TOTAL REVENUE TRADE BALANCE TRADE BARRIERS TRADE DIVERSION TRADE POLICY TRADING TRUSTS UNEMPLOYMENT UNEMPLOYMENT RATE UTILITY WAGES WEALTH WITHDRAWALS WORLD TRADE ORGANIZATION WTO Sarsenov, Ilyas Madani, Dorsati Kazakhstan - On the Crest of the Oil Wave : Kazakhstan Economic Update, Spring 2013 |
| geographic_facet |
Europe and Central Asia Kazakhstan |
| relation |
Kazakhstan economic update; |
| description |
Economic growth slowed in 2012 due to
capacity constraints in the oil sector, weaker global demand
for metals, and unfavorable weather conditions affecting
crop production. Overall, industrial output expanded by 0.5
percent in 2012, with negligible contribution to Gross
Domestic Product (GDP) growth for the year. Against the
decline of agriculture, and little change in industry
overall, real GDP growth was supported by a 10 percent
year/year growth of the services sector in 2012. Higher
export revenues supported strong domestic demand for trade
and transportation, as well as for other non-tradable
services. High oil prices continued spurring domestic
consumption while fixed capital investments remained
depressed. Private consumption remains the main contributor
to GDP growth as it has been growing by 9-10 percent a year
since 2010, supported by favorable commodity prices and high
oil export revenue. Exports of oil largely influence the
composition of Kazakhstans trading partners, while
membership in the customs union appears to be affecting
composition of imports. The European Union (EU) maintains
the first place among trading partners of Kazakhstan, mainly
due to large imports of oil and other mineral resources from
Kazakhstan. Overall, employment creation continues to be
driven by the services sector. Kazakhstan growth has been
pro-poor, driven by job creation and real income gains.
However, income disparity, which had improved up to 2009,
has worsened slightly due to the crisis. |
| format |
Report |
| author |
Sarsenov, Ilyas Madani, Dorsati |
| author_facet |
Sarsenov, Ilyas Madani, Dorsati |
| author_sort |
Sarsenov, Ilyas |
| title |
Kazakhstan - On the Crest of the Oil Wave : Kazakhstan Economic Update, Spring 2013 |
| title_short |
Kazakhstan - On the Crest of the Oil Wave : Kazakhstan Economic Update, Spring 2013 |
| title_full |
Kazakhstan - On the Crest of the Oil Wave : Kazakhstan Economic Update, Spring 2013 |
| title_fullStr |
Kazakhstan - On the Crest of the Oil Wave : Kazakhstan Economic Update, Spring 2013 |
| title_full_unstemmed |
Kazakhstan - On the Crest of the Oil Wave : Kazakhstan Economic Update, Spring 2013 |
| title_sort |
kazakhstan - on the crest of the oil wave : kazakhstan economic update, spring 2013 |
| publisher |
World Bank, Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2013/03/18457759/kazakhstan-crest-oil-wave http://hdl.handle.net/10986/22126 |
| _version_ |
1764450274791915520 |
| spelling |
okr-10986-221262021-04-23T14:04:07Z Kazakhstan - On the Crest of the Oil Wave : Kazakhstan Economic Update, Spring 2013 Sarsenov, Ilyas Madani, Dorsati ACCESS TO FINANCING AGRICULTURE ASSET MANAGEMENT BALANCE DUE BALANCE OF PAYMENTS BALANCE SHEET BANK LENDING BANK LIQUIDITY BANKING SECTOR BANKING SYSTEM BASIS POINTS BUDGET BUDGET SURPLUS BUDGET SURPLUSES BUDGETING CAPACITY BUILDING CAPACITY CONSTRAINTS CAPITAL ADEQUACY CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITALIZATION CENTRAL BANK CIVIL SERVICE COMMODITY PRICES COMPARATIVE ADVANTAGES COMPETITIVENESS CONFLICT OF INTEREST CONSUMER CHOICE CONSUMPTION CONTRACTS CREDIT RATING CREDITOR CURRENCY CURRENCY REGULATIONS CURRENT ACCOUNT SURPLUS CURRENT ACCOUNT SURPLUSES DEBT RESTRUCTURING DECENTRALIZATION DEMAND DEMAND DEPOSITS DEPOSITS DEVELOPMENT BANK DEVELOPMENT POLICY DEVELOPMENT STRATEGY DIRECT INVESTMENTS DISCOUNT DOMESTIC CREDIT DOMESTIC DEBT DOMESTIC SECURITIES ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC RESEARCH ENABLING ENVIRONMENT ENTERPRISES ENTREPRENEURSHIP EQUIPMENT EQUITY EXCESS SUPPLY EXCHANGE EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTER EXPORTERS EXPORTS EXTERNAL DEBT FINANCE FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FISCAL POLICY FISCAL YEAR FIXED CAPITAL FIXED INVESTMENT FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN INVESTOR FREE TRADE FUTURE GDP GDP PER CAPITA GINI COEFFICIENT GOOD GOODS GOVERNANCE GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT EXPENDITURES GOVERNMENT INVESTMENTS GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SECURITIES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH POTENTIAL GROWTH PROJECTIONS GUARANTEE HOUSING HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCES INCENTIVES INCOME TAX INDEBTEDNESS INDUSTRIALIZATION INDUSTRY INFLATION INFLATION RATE INFLUENCE INFRASTRUCTURE INFRASTRUCTURE DEVELOPMENT INITIAL PUBLIC OFFERING INITIAL PUBLIC OFFERINGS INPUTS INSOLVENCY REGIME INSTRUMENT INSTRUMENTS INSURANCE INSURANCE CORPORATION INTEREST INTEREST PAYMENTS INTEREST RATE INTERESTS INVESTING INVESTMENT INVESTMENT CLIMATE INVESTMENT FUND INVESTORS IPO JUDICIAL SYSTEM LABOR LABOR MARKET LEGISLATION LENDING LIABILITIES LIQUIDITY LIVING STANDARDS LOAN LOAN PORTFOLIO LOCAL BANKS LOCAL GOVERNMENT LONG-TERM INVESTMENTS MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMICS MARKET MARKET ECONOMY MARKET INDEX MARKET INFORMATION MARKET PARTICIPANTS MARKET SIZE MARKETS MATURITY MEASUREMENT MERITOCRACY MICROFINANCE MIGRATION MONETARY POLICIES MONETARY POLICY MONEY MONEY SUPPLY NATIONAL BANK NATURAL MONOPOLIES NATURAL RESOURCES NET EXPORTS NON-PERFORMING LOANS NPL OIL PRICE OIL PRICES OIL RESERVES OPTIONS OUTCOMES OUTSTANDING CREDIT PENSION PENSION FUND PENSION FUNDS PENSION REFORM PENSION RIGHT PENSION SYSTEM PENSION SYSTEM REFORM PENSIONS POOR ASSET QUALITY PORTFOLIO PORTFOLIO INVESTMENTS POVERTY PRICE INCREASES PRIVATE BANK PRIVATE INVESTMENTS PROBLEM LOANS PRODUCTION PROPERTY PUBLIC ASSETS PUBLIC DEBT PURCHASING POWER RATE OF RETURNS RATES OF RETURN REAL EXCHANGE RATE REAL GDP REAL INCOME RELIGIOUS SOCIETY REMITTANCES RESERVE RESERVE FUND RESERVES REVENUE REVENUES RISK AVERSION RULE OF LAW SAVINGS SECURITY SERVICES SHARE SHARES STOCK SWAP TARIFF TARIFF BARRIERS TARIFFS TAX EXEMPTIONS TAX RATES TAXES TOTAL REVENUE TRADE BALANCE TRADE BARRIERS TRADE DIVERSION TRADE POLICY TRADING TRUSTS UNEMPLOYMENT UNEMPLOYMENT RATE UTILITY WAGES WEALTH WITHDRAWALS WORLD TRADE ORGANIZATION WTO Economic growth slowed in 2012 due to capacity constraints in the oil sector, weaker global demand for metals, and unfavorable weather conditions affecting crop production. Overall, industrial output expanded by 0.5 percent in 2012, with negligible contribution to Gross Domestic Product (GDP) growth for the year. Against the decline of agriculture, and little change in industry overall, real GDP growth was supported by a 10 percent year/year growth of the services sector in 2012. Higher export revenues supported strong domestic demand for trade and transportation, as well as for other non-tradable services. High oil prices continued spurring domestic consumption while fixed capital investments remained depressed. Private consumption remains the main contributor to GDP growth as it has been growing by 9-10 percent a year since 2010, supported by favorable commodity prices and high oil export revenue. Exports of oil largely influence the composition of Kazakhstans trading partners, while membership in the customs union appears to be affecting composition of imports. The European Union (EU) maintains the first place among trading partners of Kazakhstan, mainly due to large imports of oil and other mineral resources from Kazakhstan. Overall, employment creation continues to be driven by the services sector. Kazakhstan growth has been pro-poor, driven by job creation and real income gains. However, income disparity, which had improved up to 2009, has worsened slightly due to the crisis. 2015-07-08T20:24:28Z 2015-07-08T20:24:28Z 2013-03-31 Report http://documents.worldbank.org/curated/en/2013/03/18457759/kazakhstan-crest-oil-wave http://hdl.handle.net/10986/22126 English en_US Kazakhstan economic update; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Europe and Central Asia Kazakhstan |