The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper reviews economic developments in the Republic of Kazakhstan during 1995-98. Following a cumulative decline of 31 percent during 1992-95, real GDP began to recover in 1996, and the resumption of growth seems to have been firmly established with growth rates of 2 percent being recorded in 1997 and in the first quarter of 1998. At the same time, inflation has fallen continuously since reaching a peak of more than 3,000 percent (annual rate) in mid-1994. By the end of 1997, the rate of price increase had fallen to about 11 percent.