Republic of Kazakhstan
Federation of Euro-Asian Stock Exchanges
Kazakhstan economy is continuing the stable growth by attracting investments, supporting businesses and stimulating trades. In 2018 GDP growth was 4.1% compared to the corresponding period of 2017. Net inflows of foreign direct investment amounted at 4 885 mln USD. In 9 months of 2018, Kazakhstan’s foreign trade turnover increased by 20.5% prior to the same period on 2017 and it amounted 84.3 billion USD, including 54.7 bln USD of exports (growth by 26.4%) and 29.7 bln USD in imports (growth by 11.1%). The volume of investments in fixed assets through 2018 increased by 17.2% and amounted 32.3 bln USD, where the large parts allocated to mining and crude oil production 40% and 26% to the operations with real estate. Country's strategy "Kazakhstan – 2050" outlines the priorities of the country's long-term future developments. The strategy's major goals include a modern view on economic development, comprehensive support of entrepreneurship, new social principles and development of educational programs.
Kazakhstan monetary policy is playing a crucial role in a stable economic growth, price levels and currency exchange rates. Inflation since the beginning of the year was 5.3%, the year earlier the same indicator was 7.1%. Prices for food commodities in 2018 grew by 5.1%, non-food products raised by 6.4% and paid services increased by 4.5%. The unemployment rate fell from 4.9% to 4.8%. As of January 1, 2019, the international reserves of the country amounted 88.6 bln USD, which consists of 30.9 bln USD in gold reserves and 57.7 bln USD in foreign currency assets of the national fund. The average exchange rate for 2018 amounted 344.7 KZT/USD. During 2018, the base rate of the National Bank of Republic of Kazakhstan has been smoothly decreasing from 9.75% to 9.25%. National Bank of the Republic of Kazakhstan is planning to continue the inflation targeting regime of monetary policy and fix the actual inflation at the rate below 4% by 2020.
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Economic Outlook
On June 27, The conference «Investment opportunities in Kazakhstan» was organized in London by the National Bank in cooperation with Bloomberg and Clearstream. At the event Daniyar Akishev the head of the National Bank of Kazakhstan spoke on the theme "Macroeconomic overview and money-credit policy of Kazakhstan". He said that the economy of Kazakhstan is taking the path of sustainable economic growth. Moreover, enabling settlement in Clearstream will support this trend on the market.
Kazakhstan Global Investment Forum 2018 took place in London on October 2 bringing together above 150 representatives of business.The forum focused on Kazakhstan's latest developments in improving the investment climate, including tax and customs incentives, its programme of state assets' privatisation, Kazakhstan's favourable geographical position at the crossroads of Europe and Asia, the country's participation in China's Belt and Road Initiative and the Eurasian Economic Union, as well as the newly established AIFC, where English common law applies.
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On November 15 – 16, 2018 National Bank of Republic of Kazakhstan and Association of Financiers of Kazakhstan hosted a large scale conference in Almaty, which was dedicated to the 25th Anniversary of national currency tenge. The Governors of central banks of Russian Federation, Mongolia, Uzbekistan, Georgia as well as 500 participants from 20 countries take part at the conference.