In terms of economic indicators of Kazakhstan is the most profitable and successful country in Central Asia.Among the ten largest financial powers of Europe.The main sources of income are considered oil and minerals, as well as mechanical engineering and metal-working industry.It is noteworthy that Kazakhstan is perhaps the only country in the continent, which is developing at an incredible pace and thriving agriculture.
Economic development
After the collapse of the Soviet Union in the country there was a significant financial downturn, which lasted until 1995.While the economy was on the verge of high inflation.The expenditure budget significantly exceeded revenue.There was an imbalance pricing policy.Authorities could not find the handle on the monopoly producers.All this has led to a sharp increase in prices and unemployment.The credit system was just beginning to emerge.
In 1993, Kazakhstan introduced the national currency, which was called "KZT".Artificial stabilization of exchange rates has led to a collapse in output and inflation.Thus, the decline in GDP was more than 9%.In 1995, the credit system has been adjusted.Such monetary policy could curb hyperinflation of up to 60% .In 2007, there was a sharp rise in Kazakhstan's GDP by almost 30%.From that moment the figure only increases.In recent years, the GDP growth rate fell slightly.The main reason for this is the instability of the global macroeconomy.Normalize total financial background makes effective policy on the domestic market.Also, a significant proportion of the budget is the yield on high yield profits.
Economic indicators
maximum threshold of devaluation in the history of Kazakhstan was observed in 1999.Then, the figure was about 59%.The reason for the devaluation was the final stage of transition to tenge.In 2009, the fall in prices stood at 17%.
As for inflation, in the early 1990s, it was about 210%.In the future, the economic background in the country has stabilized the national currency.Minimum level of inflation observed in 1998 - 1.9%.In recent years, compared to less than 6% .Vneshny debt of Kazakhstan ranges of 150 billion dollars.The amount is growing every year.A few years ago, debt was about $ 108 billion.
features industry
One of the main profitable industries is engineering.Profits from this sphere of activity is slightly less than 8% of Kazakhstan's GDP.Local manufacturers produce equipment for the mining industry, the transportation industry.Only in 2012 the world market has received more than 12 thousand Kazakh cars.
Iron and steel is 13% of the total GDP of the country.Each year, the plants in Kazakhstan is extracted and processed up to 8 billion tons of iron ore.Non-ferrous metallurgy is not inferior to the black for the specific share of GDP.Its rate is 12%.Basically metallurgical plants treated aluminum, zinc, lead and copper.Narrower manufacture - magnesium, titanium and other rare ores.
Today, Kazakhstan is one of the main exporters of copper in the world.Most of the products bought by Germany and Italy.In addition, the country registered about 170 gold deposits.The structure of GDP of Kazakhstan is based on the industry wonder.Take even the chemical industry.In the production of phosphorus and synthetic substances Kazakhstan is the third largest in Eurasia.Petrochemical companies produce a wide range of different technical materials, such as kerosene, boiler and diesel fuel, gasoline, and so on. D.
In addition, the country is well established production of building materials: slate, cement, pipes, linoleum, faience tiles,kaolin, heaters, radiators, rubble and so on. This sector covers 4% of GDP.In recent years, great strides are developing the energy sector.
Yield Agriculture
share of Kazakhstan's GDP set aside for this kind of activity is more than 5%.In recent years, this figure has risen sharply.Back in the mid-1990s, farming occupies only 1.8% of total GDP.Since 2002, on the development of the industry was directed billions of dollars.The major component of the local "farming" is the cultivation of potatoes, oilseeds and melons.The total yield for the past 10 years has increased 6 times.It is worth to note the increase in profits from the sale of vegetables and fruits.Because crops are considered the most profitable wheat, barley and oats.In the west of the republic are widespread sowing of corn and sunflowers.
The cattle is marked negative dynamics.In recent years the population has decreased by almost half.
Foreign trade indicators
First level affects the export of Kazakhstan's GDP.The main trade partners of the Republic considered the Baltics and the CIS.They account for about 59% of total exports.Topping the list is Russia.Successfully developing trade relations with foreign countries, such as Germany, Czech Republic, Turkey, Italy, Switzerland, the United States, Britain, South Korea.
annual trade turnover between Kazakhstan and Russia is about $ 30 billion.Most of the exports of oil products take, and then metals and ores.Remarkably, only 20% is allocated to all other industries and services.The main products of import is crude oil, equipment, vehicles, weapons and food.
financial system
average level of GDP of Kazakhstan is growing every year.It achieved such a positive trend thanks to an effective internal financial system.Back in 1998, the country has made large-scale pension reform.The next step is subjected to a change in the stock market.By mid-2014 the country has operated 38 national banks.
should be noted that all significant financial transactions are thoroughly checked the relevant state committees and services.The economic system in Kazakhstan is under the strict supervision of the authorities.
most serious financial crisis in the country happened in 2008.However, the decline of GDP lasted only two reporting quarters.
Economic growth in 2014 was marked by the country's severe slowdown in the procession of supply and demand.As a result, there was a negative dynamics of Kazakhstan's GDP.This indicator fell from 6% to 4%.It was connected with the instability of the world oil industry.It was also seen negative trend in demand for steel products from Russia and China.All this adversely affected not only the GDP of Kazakhstan, but also on the whole credit system.For the normalization of the country's macroeconomic authorities have decided to hold a stimulating tax policy.In addition, after the fall of the Government of Kazakhstan tenge were aimed at maintaining social articles and industry more than 5.5 billion dollars.
Financial reforms
To date, the Government of the Republic is trying to prevent the negative impact of the economic slowdown on the labor market.Otherwise it will lead to the bankruptcy of small businesses and the direct impact on the most vulnerable categories of citizens.
artificial stabilization of the economy and the level of GDP in the country will take effect a variety of social programs.Funding comes from the National Fund and the partial redistribution of public funds.
Among other reforms necessary to allocate a new package of measures to attract foreign investors and small business support.
prospects and risks
Recently there has been an adverse change in GDP of Kazakhstan.The improvement is forecast for 2017 only.As of 2014 the GDP growth stood at 4.1%.The dynamics of this index will fall every day, until the global economic environment does not find leverage stabilization.Impact on domestic financial risks of Kazakhstan and the geopolitical tensions in the region.The most negative factor in reducing the level of GDP is the conflict between Russia and Ukraine.Because of this very hard to find investors for stable long-term prospects.
Dynamics of GDP in 2015
At the moment, there is an artificial stagnation of the economic component of the Republic of Kazakhstan.GDP per capita is about 13.6 thousand dollars.This figure in 2015 can be reduced weighty.Experts predict that GDP growth should fall to 2%.However, next year is expected a positive trend of 5.5%.
Until the end of the current year increase in GDP is not expected, as the price of oil and export figures continue to fall.
