Flowing With The Tide

Posts Tagged ‘Kazakhstan’

For the year 2009 to 2010, the Joint Operating Plan of the National Bank, the Financial Supervision Agency and Government of the Republic of Kazakhstan between 2009 and 2010 has identified its main areas of concentration. These areas of concentration involve the development of the agro-industrial complex, the implementation of industrial, innovative and infrastructural ventures, the stabilization of the financial sector, finding solutions for relevant real estate market concerns and the promotion of small and mid-sized businesses.

As of 2009, Kazakhstan experienced considerable developments in various sectors compared to the previous year. Growth in the agriculture increased by 10.6%; natural gas production by 9%; communication services by 8%; crude oil production by 8%; mining by 5.7%; capital investment by 2.3%; passenger traffic by 1.8% and industrial production by 0.7%.

By the end of 2009, the inflation rate was 6.2%, which is its lowest point since 2003. As of November 2009, the unemployment rate was 5.6%, 0.1% lower than that of November 2008. In addition to this, in November 2009, 7.9 million persons were welcomed into the world of the employed, which is a significant increase of 15.7 thousand since 2008.

In the first half of 2009, Kazakhstan adjusted to the crises it faced tremendously well; with its financial status steadily becoming more productive. Recently, Kazakhstan became the chair of the OSCE.

Based on the initial results, Kazakhstan’s gross domestic product (GDP) in 2009 increased by 0.5%. Although deemed as a meager development, this was quite an improvement compared to other nations that had decreased GDPs. With this, the nation was ranked second in the CIS (Commonwealth of Independent States) in 2009 – following Russia – basing on GDP per capita.