IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2025-030.html
   My bibliography  Save this paper

Republic of Kazakhstan: 2024 Article IV Consultation-Press Release; and Staff Report

Author

Listed:
  • International Monetary Fund

Abstract

The 2024 Article IV Consultation discusses that after reaching 5.1 percent in 2023, Kazakhstan’s economic growth has remained robust in 2024, and inflation has continued to decline gradually. The banking sector remains resilient amid continued rapid consumer credit growth. In the medium term, growth is projected to stabilize at about 3½ percent, while inflation would ease. Recurrent fiscal underperformance requires measures to avoid fiscal procyclicality and strengthen the fiscal policy framework. Such measures would also help to meet the authorities’ objective of fiscal consolidation and maintain a balanced external position. Fiscal policy effectiveness also requires public sector data that are better aligned with international standards and a more rules-based and transparent policy framework, including by reducing off-budget spending and the continued reliance on discretionary transfers from the National Fund. Structural reform implementation remains slow, with the state footprint growing in some areas, while higher economic growth, diversification and resilience will be important in the current environment, including to address increasingly pressing challenges from climate change.

Suggested Citation

  • International Monetary Fund, 2025. "Republic of Kazakhstan: 2024 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 2025/030, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2025/030
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=561424
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2025/030. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.