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Republic of Kazakhstan: Selected Issues and Statistical Appendix

Author(s):
International Monetary Fund
Published Date:
July 2003
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V. Pension System Developments54

A. Introduction

124. The Kazakhstani pension system is presently in a period of transition from a defined benefit, pay-as-you-go (solidarity) pension system to the new fully-funded, defined contribution (accumulative) system. The accumulative system serves those entering the workforce after January 1, 1998, while those already in the workforce for six months or longer at the beginning of 1998 receive, or will receive, a blend of benefits from both schemes. At present, the majority of retirement income for new retirees is still provided by the solidarity system. However, this system does not allow years worked after 1997 to be used in calculating pension benefits, and so with each year an increasing share of retirement income will be provided by the accumulative system.

125. Operationally, the solidarity and accumulative systems are functioning relatively well, but it is becoming increasingly clear that both suffer from fundamental design problems. These problems exist in a number of areas, including in the level of pension provision each system is capable of delivering; and in the distribution of pension income across various groups. With respect to the defined contribution scheme, there are additional issues that are likely to become more pressing over the medium term. These include the shortage of domestic investment opportunities for pension assets and falling rates of return; the absence of a redistribution mechanism within the scheme; and the lack of an annuities market, which is needed to transform accumulated funds into lifetime income streams.

B. Solidarity System

126. The relatively generous benefits and strong link between benefits and contributions that originally characterized the solidarity system have declined over time. The system was designed to serve a centrally planned economy. It was, however, poorly equipped to function within a market environment of rapidly rising and differentiated wages, and where incentives and possibilities for evasion were strong. Attempts by government to adjust benefits to inflation and changing conditions were ad hoc and by necessity subordinated to budget concerns. As a result, the level of real benefits fell and the link between relative contributions and relative benefits was severely eroded. The solidarity system now delivers a low average pension equivalent to 28 percent of the average wage in 2002 (Table V-1). As wages continue to grow rapidly, this percentage is likely to decline further in the years ahead.

Table V-1.Comparative Pension Statistics
Present system 1/Kazakhstan

Accumulative system 2/
Kazakhstan 3/Eastern Europe and FSULatin AmericaHigh-income OECD averageReplacement rate 4/ (On retirement/At time of death)
MaleFemale
Average replacement rate 4/28475338
20 years work23/1411/6
30 years work33/2017/8
40 years work45/2722/10
All social security taxes 5/104128291010
Retirement age, male63616165
Retirement age, female58576964
Source: Preliminary actuarial forecast by World Bank staff.

Average of benefits provided in 2000 for existing retirees. For Kazakhstan, these benefits are provided by the solidarity pension system.

Actuarial projections for Kazakhstan accumulative pension system for those beginning their working careers in 2001. Assumes unchanged policies and real rate of return on pension assets of about 5 percent.

Qualification for Kazakhstan solidarity pension requires a 25 year work history for males and 20 years for females. Benefits rise with additional years work up to a maximum of 33 years.

Average pension as a percent of average wage.

In the case of Kazakhstan, social security taxes consists of the 10 percent accumulative pension system contribution. An additional 21 percent social tax is levied, but these revenues are not explicitly earmarked for either social security or social assistance and the tax functions more as a personal income tax. Social tax revenues accrue only to local government while solidarity pensions are a liability of the Republican government.

Source: Preliminary actuarial forecast by World Bank staff.

Average of benefits provided in 2000 for existing retirees. For Kazakhstan, these benefits are provided by the solidarity pension system.

Actuarial projections for Kazakhstan accumulative pension system for those beginning their working careers in 2001. Assumes unchanged policies and real rate of return on pension assets of about 5 percent.

Qualification for Kazakhstan solidarity pension requires a 25 year work history for males and 20 years for females. Benefits rise with additional years work up to a maximum of 33 years.

Average pension as a percent of average wage.

In the case of Kazakhstan, social security taxes consists of the 10 percent accumulative pension system contribution. An additional 21 percent social tax is levied, but these revenues are not explicitly earmarked for either social security or social assistance and the tax functions more as a personal income tax. Social tax revenues accrue only to local government while solidarity pensions are a liability of the Republican government.

127. The problems associated with this low average replacement rate were exacerbated by the ad hoc nature of past indexation. This created a significant dispersion of pensions between cohorts, as early retirees’ pensions did not keep pace with inflation, while current retirees’ pensions are based on current wages.55 As a result, those retiring after 1994, and particularly after 1998, enjoy significantly higher nominal pensions than those who retired earlier. Post-1998 retirees receive a solidarity pension, based on the number of years worked prior to 1998, plus the lump sum of their contributions to the accumulative system. However, even-pensions for recent high wage retirees are capped at a relatively low level.56

128. Over the last two years, this pattern was broken. Annual increases in pension outlays not only exceeded relatively moderate rates of inflation, but were specifically designed to reduce some of the dispersion between cohorts caused by the imperfect indexation of the past.

  • In 2002, overall pension outlays increased by 13 percent, with the increase heavily weighted towards the lowest pensions. Payments rose by 25 percent for those who retired before 1994, by 8.4 percent for those who retired after 1994 but before 1998; and by a small nominal amount (about $2 per month) for those who retired after December 31, 1997. In early 2003, pensions were uniformly increased by 12 percent, but only up to the maximum pension, which remained capped at T 16,350 per month.

  • The Government is planning to use the mid-2003 pension increase to introduce a more fundamental restructuring of the system of benefit determination.57 The aim is to restore a stronger link between relative contributions and relative benefits and to correct the existing inequity between cohorts. The scheme is currently under development. One variant being proposed by the Ministry of Labor and Social Protection will involve recalculating the pensions of everyone who retired prior to January 1, 2003. The ratio of the average of each pensioner’s best three years wages to the average wage in his sector of employment at the time of his retirement will be calculated from information in each individual’s pension file. An adjustment will then be made to account for length of service, and this ratio will be applied to the 2002 average wage in the pensioner’s sector of employment. An alternative formulation calls for the ratio to be applied to the 1997 wage level, and then be indexed to subsequent years’ inflation.

129. The changes to the system in mid-2003 are calculated to increase the average pension by 24½ percent to T 8,000 per month and raise the minimum pension from T 5,000 to T 5,500. The introduction of this scheme will mean that pension increases in the 2003 supplemental budget and the 2004 budget will be limited to about 1,000,000 recipients out of a total of 1,690,000 pensioners. As 900,000 of these pensioners currently receive only between T 5,000 (the minimum pension) and T 6,000 each month, the increases planned for mid-2003 and 2004 will be largely confined to those at the lower end of the pension scale. Those at the higher end will receive little or no increase, but existing pensions will not be lowered as a result of the recalculation. The plan also includes a provision that future pensions will be fully indexed to inflation.

C. Accumulative Pension System

130. During 2002 and so far in 2003, pension fund assets grew rapidly, the relative importance of the private funds increased, and changes were made in the supervision regime. Total assets under management in the accumulative pension scheme increased at an average monthly rate of about US$45 million and reached US$1,850 million on March 1, 2003 (Figure V-1). At the beginning of March, there were sixteen pension accumulation funds operating in Kazakhstan, and eight pension asset management companies. The State Accumulation Pension Fund (SAPF) continued to lose market share relative to the private funds, with its share declining from 32 percent of total assets under management at end-2001 to 28 percent by end-February 2003. It retains an appeal among lower income earners, however, and its members make up about 47 percent of total contributors. The National Bank of Kazakhstan (NBK) absorbed the duties and staff of the Pensions Committee58 in August 2002. As a result, the NBK now has full responsibility for regulation and supervision of both pension funds and asset management companies. Both are currently being integrated into the evolving system of consolidated financial supervision, which is to be spun off from the NBK in 2004.

Figure V-1.Kazakhstan: Pension Fund Assets, 1998–2003

(In billions of tenge)

131. A number of changes to the Law on Pension Security in the Republic of Kazakhstan came into effect on January 1, 2003. These provided for: (i) the harmonization of the regulations governing the SAPF and the private pension funds; (ii) the extension of the state guarantee of principal contributions to the SAPF to all pension funds; (iii) the opening of the pension fund industry to non-resident participation (subject to certain global restrictions); (iv) modifying ceilings on the size of management fees and a change in the basis of such fees from the value of assets under management to a proportion of the return generated; and (v) the removal of the separation between pension funds and the asset management function. This latter reform resulted from the recognition that the purpose behind the separation of these functions was not being achieved through legal separation, as large financial groups controlled both pension funds and asset management companies. Furthermore, such separation was deemed as not strictly required once the central bank began exercising supervision over both activities.

132. Certain efficiency gains were realized from these changes, although the fundamental issues in the system remain unresolved.

  • Recent actuarial studies by the World Bank demonstrate that the current design of the accumulative pension system is unlikely to generate adequate pensions for most participants. Moreover, as it is a defined contribution system, and therefore lacks a redistributive function, a significant portion of the population, particularly vulnerable groups such as women, low wage earners, and partially-employed persons will receive little or no retirement income. World Bank projections indicate that even with the optimistic assumption of a 5 percent annual real rate of return on pension fund assets, the replacement rate for males with 30 years of work history would equal only 33 percent of the average wage at retirement (17 percent for women), and would decline to 20 percent at the time of death (8 percent for women) as real wages in the economy continue to rise59. This problem is related primarily to the level of contributions, which at 10 percent is too low to generate significantly higher replacement rates.

  • The shortage of investment opportunities for pension assets is beginning to seriously impact pension fund performance, and has the potential to substantially affect the system’s long-term performance (Figure V-2). Pension funds are currently highly vulnerable to exchange rate risk, as assets, even domestic assets, are mainly denominated in US dollars while benefits are paid in tenge.60 This vulnerability is already being felt. Real rates of return on assets generated by the individual pension funds were between 5 and 7 percent in the period October 2001 to October 2002. However, returns fell in early 2003, largely because of the appreciation of the tenge, and some of the private funds posted tenge-denominated negative returns for the first quarter. With the exchange rate likely to undergo trend appreciation over the medium to long term, increased investment of pension fund assets abroad is unlikely to provide the 5 percent real rate of return considered necessary for even the moderate replacement rates considered above. Meanwhile, the quantity of acceptable domestic instruments is limited by the government’s strong fiscal position, the slow (though improving) pace of development of the domestic corporate bond market, and by concerns regarding governance of the corporate sector. With pension fund assets growing rapidly, the issue will become increasingly important over time.

  • The question of how payments will be made from the accumulative system also raises serious issues for the medium- to long-term functioning of the system. Currently, payments tend to be quite small, and payouts are more supplements to funds obtained under the solidarity system, rather than the main source of retirement income. However, the accumulative system will gain in importance as time passes, and the inability to purchase tenge-denominated annuities will then take on increasing importance.

  • The World Bank currently estimates that given realistic transactions fees, a real balance (in 2002 tenge) of about T 1 million (equivalent to US$6,600) would be required at the time of retirement to justify the purchase of an annuity. It is further estimated that, as currently designed, only 2 percent of the system’s participants will achieve this amount61. Given this situation, a phased withdrawal approach may be the only feasible option, although this entails a risk that those whose lifespan exceeds the statistical norm would be left without a retirement income at a late stage.

133. The government is fully cognizant of these issues and, with assistance from the World Bank, is searching for a broader understanding of the current situation and the options available for reform. This examination will take place over the next three years. Looking ahead, some alterations to the existing arrangements will likely become necessary, and may justify the expenditure of some of the country’s oil wealth. Among the possibilities being explored are increases in mandatory contribution payments, either from employees or from employers; increases in the retirement age; the creation of a second, unfunded, pillar from the budget to supplement pensions up to a minimum level; and the creation of a new parallel pay-as-you-go pillar to complement the existing system.

Statistical Appendix
Table 1.Kazakhstan: Value Added in the Main Production Sectors, 1998–2002
19981999200020012002
preliminary
(In billions of tenge)
Nominal GDP1,7332,0162,6003,2513,747
Industry4235698659971,099
Agriculture148199211284298
Construction8696135178230
Transport and communication239243299363430
Trade and catering263274323393450
Real estate, leasing, and serv. for enterprises227241281401496
Others 1/348394487635746
(In percent)
Real GDP growth−1.9−2.79.813.59.5
Industry−2.42.715.513.59.8
Agriculture−18.921.7−3.217.12.7
Construction15.08.014.027.419.3
Transport and communication−0.9−0.518.89.59.9
Trade and catering−3.22.15.013.58.5
Real estate, leasing, and serv. for enterprises3.5−1.15.910.19.8
Others 1/2.2−1.37.412.89.3
(In percent)
Share of GDP
Industry24.428.233.330.729.3
Agriculture8.69.98.18.77.9
Construction4.94.75.25.56.1
Transport and communication13.812.111.511.211.5
Trade and catering15.213.612.412.112.0
Real estate, leasing, and serv. for enterprises13.112.010.812.313.2
Others 1/20.119.518.719.519.9
Total100.0100.0100.0100.0100.0
Sources: National Statistical Agency; and Fund staff estimates.

Mainly services.

Sources: National Statistical Agency; and Fund staff estimates.

Mainly services.

Table 2.Kazakhstan: Industrial Production, 1998–2002 1/
19981999200020012002
preliminary
(In billions of tenge)
Gross output8081,1431,7982,0002,292
Manufacturing4455788369371,019
Processing of Agricultural products166181239277307
Textile and clothing industry1218364044
Manufacturing of coke, refined petroleum products and nuclear fuel3555708678
manufacturing of refined petroleum products3146607871
Chemical industry1113182431
Production of rubber and plastic products22478
Manufacture of other non-metal mineral products149142429
Metallurgy and metal working158256377374411
metallurgy151250366358396
Machine building3026466769
Other3617323841
Mining1964138008871,073
Mining of coal and lignite2722273431
Extraction of crude petroleum and condensate gas118333683721877
Extraction of natural gas11791322
Mining of metal ores2937556681
Other mining6781314
Production and distribution of Electricity, gas and water167152162177200
(In percent of total)
Total
Manufacturing55.150.646.546.944.5
Processing of Agricultural products20.615.813.313.913.4
Textile and clothing industry1.51.62.02.01.9
Manufacturing of coke, refined petroleum products and nuclear fuel4.44.83.94.33.4
manufacturing of refined petroleum products3.84.03.33.93.1
Chemical industry1.41.21.01.21.4
Production of rubber and plastic products0.30.20.20.30.4
Manufacture of other non-metal mineral products1.70.80.81.21.3
Metallurgy and metal working19.622.420.918.717.9
metallurgy18.721.820.317.917.3
Machine building3.72.22.53.43.0
Other2.01.51.81.91.8
Mining24.336.144.544.346.8
Mining of coal and lignite3.31.91.51.71.4
Extraction of crude petroleum and condensate gas14.629.138.036.138.2
Extraction of natural gas1.40.60.50.61.0
Mining of metal ores3.63.23.03.33.5
Other mining0.70.60.40.60.6
Production and distribution of Electricity, gas and water20.713.39.08.88.7
Source: National Statistical Agency.

The values do not include intrafactory turnover.

Source: National Statistical Agency.

The values do not include intrafactory turnover.

Table 3.Kazakhstan: Selected Agricultural and Industrial Output Indicators, 1998–2002
19981999200020012002
preliminary
(Percent changes compared to previous year)
Production volume growth
Crude oil (in thousands of metric tons) 1/0.616.117.213.517.8
Coal (in thousands of metric tons)−4.0−16.328.35.7−7.7
Natural gas (in millions of cubic meters)−2.025.116.00.613.2
Iron ore (in thousands of metric tons)−28.93.068.0−1.711.2
Electricity (in millions of kwh)−5.5−3.48.77.35.6
Processed meat (in thousands of tons)−33.8−13.5−14.4−3.8−17.8
Milk products (in thousands of tons)−45.3−18.922.2−1.017.3
Cereals−47.7123.0−19.037.50.4
Of which: Wheat−47.0136.9−19.340.1−0.1
Potatoes−14.234.20.229.13.8
Vegetables22.619.319.915.44.2
Meat−9.9−2.5−3.61.03.0
Milk5.4−5.15.53.95.0
Eggs11.88.411.99.61.3
Wool−22.8−10.84.50.04.3
Memorandum items:
(in billions of tenge)
Agricultural production value
Plant growing101.9177.7223.5325.8321.2
Of which: Cereals34.985.8111.5187.4168.3
Of which: Wheat26.867.989.0143.9123.0
Potatoes17.326.331.236.035.2
Vegetables25.625.226.941.636.2
Animal husbandry144.3157.3178.5207.9230.8
(In percent of total production)
Share of agricultural production by private farms
Meat86.491.493.793.994.0
Milk92.294.895.095.495.5
Eggs45.547.649.850.046.8
Wool82.287.389.191.191.6
Potatoes91.594.995.896.096.9
Vegetables88.788.694.093.695.2
Production volumes
Industry
Crude oil (in thousands of metric tons) 1/25,94530,13035,31740,09147,239
Coal (in thousands of metric tons)69,77358,37874,87279,13570,603
Natural gas (in millions of cubic meters)7,9489,94611,54211,61013,137
Iron ore (in thousands of metric tons)9,3369,61716,15715,88617,666
Electricity (in millions of kwh)49,14547,49751,63555,38458,475
Agriculture
Meat (in thousands of metric tons)1,2031,1821,1401,1511,186
Cereals (in thousands of metric tons)6,39614,26411,56515,89715,960
Of which: Wheat4,74611,2429,07312,70712,700
Source: National Statistical Agency.

Includes gas condensate.

Source: National Statistical Agency.

Includes gas condensate.

Table 4.Kazakhstan: Consumer Prices, 1998–2002
Jan.Feb.Mar.Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.
(In monthly percent change)
1998 Total1.81.10.70.50.3−0.8−0.2−1.0−0.1−0.70.00.3
Food2.71.31.20.10.6−1.4−1.8−1.9−0.5−1.1−0.20.6
Clothing and footwear0.20.20.30.20.20.00.00.10.30.30.30.2
Rent, water, and power1.41.80.01.00.00.04.50.30.3−0.90.30.2
Household goods0.10.00.00.4−0.1−0.2−0.2−0.10.6−0.10.0−0.1
Medical care0.1−0.2−0.2−0.5−0.3−0.50.00.0−0.7−0.8−0.7−0.5
Transportation and communication1.40.8−0.11.4−0.1−0.30.3−0.40.0−0.20.0−0.4
Recreation, education and culture0.30.30.20.50.30.00.70.21.00.40.00.0
1999 Total0.9−0.2−0.24.61.44.81.1−0.30.70.71.71.7
Food1.0−0.3−035.71.76.60.6−1.20.30.62.12.7
Clothing and footwear0.20.10.03.50.62.00.60.61.51.51.30.9
Rent, water, and power2.1−0.1−0.10.31.20.71.60.4−0.20.01.00.3
Household goods0.0−0.1−0.39.91.73.70.90.50.61.80.70.6
Medical care−0.5−1.2−0.96.4−0.20.90.40.20.61.10.70.5
Transportation and communication0.0−0.8−0.53.52.48.64.31.83.00.02.00.3
Recreation, education and culture0.31.20.46.60.72.81.10.91.81.20.70.7
Personal care0.10.30.411.72.53.11.70.60.61.41.00.7
2000 Total2.60.10.00.40.70.70.40.20.51.21.51.3
Food3.50.2−0.10.31.11.00.10.00.21.62.12.0
Clothing and footwear0.60.40.30.40.50.40.60.40.51.01.00.7
Rent, water, and power3.8−0.60.10.10.10.10.20.21.71.10.70.2
Household goods0.40.1−0.3−0.10.50.30.20.20.20.20.50.6
Medical care0.70.50.90.70.20.40.30.10.20.10.40.2
Transportation and communication−0.1−0.1−0.91.40.60.72.51.10.20.70.90.3
Recreation, education and culture0.70.30.40.20.10.10.40.20.30.40.40.7
Personal care0.70.40.10.20.40.70.30.30.20.80.40.2
2001 Total1.10.70.70.70.40.1−0.10.00.20.70.91.0
Food1.21.41.31.20.70.0−0.4−0.60.10.61.31.7
Clothing and footwear0.40.40.60.50.50.40.30.30.61.11.20.8
Rent, water, and power2.0−0.60.10.10.10.0−0.40.80.11.00.303
Household goods0.40.60.30.30.40.20.40.20.30.20.90.5
Medical care0.60.30.1−0.1−0.10.20.20.3−0.20.20.10.2
Transportation and communication0.0−0.6−0.6−0.3−0.30.31.01.00.50.2−0.5−1.3
Recreation, education and culture030.50.40.30.10.10.30.20.30.40.50.4
Personal care0.40.30.30.50.20.40.40.30.40.50.60.5
2002 Total0.70.30.20.50.90.50.6−0.30.10.61.01.4
Food1.10.50.20.40.70.20.6−0.6−0.10.31.22.3
Clothing and footwear0.30.30.50.60.60.40.30.50.71.21.11.0
Rent, water, and power1.10.60.20.90.00.31.1−0.10.21.00.60.3
Household goods0.20.50.40.40.30.40.40.20.30.40.50.4
Medical care0.21.00.40.60.40.50.60.50.20.60.50.4
Transportation−2.2−2.8−2.00.17.83.70.0−0.5−1.10.70.50.7
Communication0.10.10.11.00.00.00.00.00.00.00.00.0
Rest, recreation and culture0.30.70.40.4030.10.20.30.50.50.50.6
Education0.20.60.80.20.20.10.30.13.01.21.40.3
Restaurants and hotels0.30.70.60.30.60.10.10.20.30.30.60.8
Other goods and services0.50.60.40.50.40.50.40.40.50.40.30.3
(Percentage change over previous year)
Memorandum items
Total 199810.810.110.09.79.67.96.96.16.24.32.81.9
Total 19991.0−0.3−1.22.83.99.811.211.912.814.316.317.8
Total 200019.820.220.415.614.710.29.510.09.810.410.29.8
Total 20018.28.89.610.09.79.08.58.38.07.46.86.4
Total 20026.05.75.04.85.45.86.56.26.16.06.16.6
Sources: National Statistical Agency.
Sources: National Statistical Agency.
Table 5.Kazakhstan: Wholesale Prices, 1998–2002
Jan.Feb.Mar.Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.
(In monthly percent change)
2000 Total0.92.02.2−1.2−2.23.11.71.83.92.20.92.7
Mining and extraction industry1.75.55.8−2.8−9.011.23.81.110.04.82.35.1
Extraction of crude oil and natural gas1.76.27.8−3.4−11.114.84.81.212.95.62.65.7
Processing industry1.00.40.5−0.61.7−0.80.83.01.10.70.01.6
Processing of agricultural products0.10.0−0.1−0.13.61.41.0−0.50.81.00.71.1
Textile and sewing industry0.50.20.20.20.80.30.10.70.40.00.51.0
Coal production, oil refinery−1.8−6.2−2.90.02.50.11.720.83.05.15.64.6
Chemical industry3.11.4−0.91.93.70.4−0.7−2.40.20.00.7−0.7
Manufacturing of rubber and plastic products0.04.96.10.0−4.60.00.30.10.00.00.10.2
Metallurgical industry and metal working2.32.41.8−1.40.9−2.50.71.70.9−0.6−2.41.5
Manufacturing of machinery and equipment0.80.2−0.81.0−0.2−0.40.0−0.30.5−0.21.90.1
Electricity, gas, and water supply−0.50.20.00.40.00.00.30.10.01.00.10.0
2001 Total−8.52.01.3−3.70.01.1−0.3−2.00.50.1−1.6−3.4
Mining and extraction industry−18.05.43.0−7.82.43.5−1.9−2.81.9−1.0−3.3−5.9
Extraction of crude oil and natural gas−20.45.93.5−9.02.54.2−2.2−3.41.8−1.7−4.1−7.1
Processing industry−1.2−0.30.0−1.0−2.0−0.70.4−1.9−0.60.9−0.8−2.2
Processing of agricultural products0.40.81.10.30.51.00.5−0.1−0.20.00.6−0.1
Textile and sewing industry0.30.20.20.20.00.40.30.00.21.70.30.1
Coal production, oil refinery−1.8−3.6−4.3−4.5−2.5−0.28.10.21.12.8−0.8−16.2
Chemical industry0.6−0.81.22.0−0.8−1.21.31.51.20.3−0.30.1
Manufacturing of rubber and plastic products0.10.30.10.10.11.30.40.30.20.10.10.3
Metallurgical industry and metal working−1.90.10.6−0.9−3.2−1.7−1.7−4.0−1.60.8−1.70.7
Manufacturing of machinery and equipment−0.10.60.7−0.80.90.41.30.1−0.30.10.0−0.1
Electricity, gas, and water supply1.0−0.10.00.60.00.02.70.00.10.50.90.3
2002 Total−4.60.62.13.93.50.22.51.72.12.4−1.6−1.1
Mining and extraction industry−9.21.12.28.26.50.13.73.34.84.8−2.8−3.0
Extraction of crude oil and natural gas−11.01.02.39.17.30.44.13.65.95.6−3.2−3.5
Processing industry−1.70.32.50.51.10.41.50.3−0.40.0−0.51.0
Processing of agricultural products0.30.4−0.3−0.1−0.5−0.5−0.3−0.2−0.1−0.3−0.30.1
Textile and sewing industry0.92.12.10.00.1−0.10.00.00.40.42.10.0
Coal production, oil refinery−3.4−5.70.0−0.3−0.20.8−0.12.10.60.4−0.2−0.1
Chemical industry0.80.6−1.01.21.6−1.00.40.50.4−0.3−0.20.3
Manufacturing of rubber and plastic products0.20.70.70.70.10.50.0−0.20.20.0−0.12.2
Metallurgical industry and metal working−2.51.84.61.12.20.72.80.1−0.90.0−0.81.8
Manufacturing of machinery and equipment0.30.50.2−1.40.30.1−0.10.0−0.20.00.1−0.3
Electricity, gas, and water supply2.20.40.30.60.40.11.50.00.00.40.10.0
(Percentage change over previous year)
Memorandum items:
Total 19986.36.04.94.63.72.3−0.1−1.0−2.2−3.6−4.6−5.5
Total 1999−6.5−8.5−8.4−1.37.216.420.926.932.844.551.257.2
Total 200060.265.569.356.041.435.533.731.031.123.720.519.4
Total 20018.38.37.34.66.94.92.8−1.1−4.3−6.4−8.7−14.1
Total 2002−10.4−11.6−10.9−3.9−0.6−1.51.35.16.89.39.311.9
Sources: National Statistical Agency.
Sources: National Statistical Agency.
Table 6.Kazakhstan: Energy Prices, 1998–2002 1/(Average monthly price in tenge)
Jan.Feb.Mar.Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.
1998
Crude oil (mt)4,4794,4984,4814,4594,2964,2114,3144,0453,6883,6273,3683,370
Natural gas (1000m3)773778773778782782734787793799803807
Electricity (1000Kwh)2,6402,6402.6402,5802,5802,5802,5902,5902,5802.5402,5502,550
Coal (mt)735836724725725725721723737737748752
Gasoline (ml)14,79014,76714,76914,36714,90414,54113,09712,95113,13713,16213,42412,887
Diesel (mt)10,0009,9979,99810,42410,3089,9359,3639,3849,5329,5559,1499,561
Mazuth (mt)4,9644,9644,9643,9503,9543,7473,3583,4683,5103,7143,8353,949
Heating (Goal)1,1851,1861,1861,1701.1681,1681,1231.1281,1201,1081,0951,095
Liquid petroleum gas (mt)4,8654,8654,8674,8724.8755,1595.3965,4615,5305,6295,7425,522
1999
Crude oil3,7563,5383,6974,7705,6297,0207,6918,84510,16312,40913,29014,553
Natural gas818621828649656660677676683691726751
Electricity2,3802.38013902,3902,4002,4102,4302,4302,4302,4402,4402,440
Coal468489484485518517516530518512512514
Gasoline12,53412,64810,00012,22112,34012,84016,60219,09822,94927,33529,58331,186
Diesel9,3989,4928,93210,04910,31010,5169,94811,08911,92114,63916,29320,497
Mazuth3,0863,0953,0803,1823,2353,2352,9843,2934,1026,2547,5127,579
Heating (Gcal)1,1381,1381.1391,1341,1381,1421.1601,1631,1631,1611,1591,159
Liquid petroleum gas (mt)4,1173,5923,4943,8913,9454,5023,9283,1343,3353,4094,6884,796
2000
Crude oil14,86215,26816,32715,72913,64215,94116,76316,55218,77319,71520,28920,401
Natural gas620653799646667698701777779835909957
Electricity2,4602.4002,4002,4102,4102,4102,4102.4102,4002.4102,4102,410
Coal579576363552550542537535526525525516
Gasoline30,64326,90024,45124,42926,30526,32226,40332,21431,42731,79033,79034,505
Diesel19,71618,47318,68318,62119,59019,60120,34424,67126,84628,27630,05731,767
Mazuth7,9787,8437,9147,9137.0677,0717.0759,3999,79010,84110,59711,109
Heating (Gcal)1,2341.2351.2341,2361,2361,2361,2381,2381,2331,2721,2711,271
Liquid petroleum gas (mt)7,1997,7697,4047,2947,2247.2307,2369,07510,91910,91812,16312,515
2001
Crude oil15,17916,15016,72715,17115,60316,22115,79515,22915,50115,20614,44613,567
Natural gas1,1111,1571,2001,2141,2081,2071,2071,2131,2121,2091,3311,265
Electricity2,6302,6302,6302,6402,6402,6402,6402,6402,6402.6422,6542,660
Coal425440460453475477456464496544562594
Gasoline35,40033,78231,41927,75529,51530,50833,74233,83734,91534,97935,12727,937
Diesel32,05731,08030,31329,12424,94623,36326,27626,33326,49428,48727,08821,402
Mazoth9,8905,6347,6747.6717,1467,1868,7548,7768,8329,8389,8675,450
Heating (Gcal)1,4231,4231,4231,4211,4211,4211.4271,4271,4271,4271,4271,427
Liquid petroleum gas (mt)13,30113,31912,12112,12912,17513,42515,17615,22215,27915,31015,36714,215
2002
Crude oil11,91012,01212,44613,76314,64214,51015,14515,76116,60617,55416,81815,791
Natural gas1,2881,4401,4411,4431,4441,4451,4471,4491.3581,3561,3361,341
Electricity2,7742,7872,8022,8312,8612,9612,8972,9002,9002,9002,9032,903
Coal603599592590592592591590586588584579
Gasoline26,72023,43722,29422,20022,06222,20922,05022,99123,36123,58923,52323,147
Diesel19,78618,36218,14118,04417,85318,53418,53418,46318,55713,18618,12818,012
Mazuth5,4475,4995,4175,2705,3555,3125,3125,3755,8756,0546,0546,054
Heating (Gcal)1,3541,3521,3591,3611,3601,3611,3611,3611,3611,3761,3761,376
Liquid petroleum gas (mt)13,03813,18213,18213,18213,18413,03913,03913,19613,19613,19613,19613,196
Sources: National Statistical Agency.

Producers’ ex-factory prices. Average prices for all customers.

Sources: National Statistical Agency.

Producers’ ex-factory prices. Average prices for all customers.

Table 7.Kazakhstan: Employment, 1998–2002 1/
19981999200020012002
(Thousands)
Total6,1286,1056,2016,6996,709
Agriculture and forestry1,3541,3351,9412,3662,367
Fishing6781314
Total industry903905855830824
Of which:
Mining124129137167167
Manufacturing627628573514504
Electricity, gas and water: production and distr153148146150153
Construction223211226264268
Trade, repair of cars and household goods1,4051,3989711,0061,007
Hotels and restaurants6870615457
Transports and communication560576550506504
Financial sector3836404650
Real estate184211226214203
Public administration346344314281281
Education522513531576589
Health and social services326320292287293
Community, social and personal service activities194172181183186
Services to households0867167
(In percent of total)
Total100.0100.0100.0100.0100.0
Agriculture and forestry22.121.931.335.335.3
Fishing0.10.10.10.20.2
Total industry14.714.813.812.412.3
Of which:
Mining2.02.12.22.52.5
Manufacturing10.210.39.27.77.5
Electricity, gas and water: production and distr2.52.42.42.22.3
Construction3.63.43.63.94.0
Trade, repair of cars and household goods22.922.915.715.015.0
Hotels and restaurants1.11.11.00.80.8
Transports and communication9.19.48.97.67.5
Financial sector0.60.60.60.70.7
Real estate3.03.53.63.23.0
Public administration5.65.65.14.24.2
Education8.58.48.68.68.8
Health and social services5.35.24.74.34.4
Community, social and personal service activities3.22.82.92.72.8
Services to households0.00.10.11.11.0
Source: National Statistical Agency.

Includes self-employment.

Source: National Statistical Agency.

Includes self-employment.

Table 8.Kazakhstan: Labor Market, 1998–2002
19981999200020012002
Q1Q2Q3Q4QlQ2Q3Q4QlQ2Q3Q4QlQ2Q3Q4QlQ2Q3Q4
Operation of Employment Offices
Number of job placement inquiries (thousands)46.344.542.845.535.726.128.430.641.230.425.225.930.230.125.724.944.433.523.519.5
Number of people placed in jobs (thousands)7.39.49.39.16.54.65.67.67.311.812.011.48.914.113.411.38.914.314.511.7
Number of vacancies (thousands)8.511.212.59.96.67.08.27.88.711.012.510.78.712.913.611.59.913.914.411.9
Number of registed unemployed (thousands)262.0272.4264.8254.5245.1237.1239.5248.6286.6278.5256.5238.6242.1234.5222.8216.1265.7256.1220.2193.7
(percent of economically active population)3.93.93.93.83.83.73.83.94.54.34.03.73.43.12.92.93.63.62.92.6
Total unemployment (thousands) 1/925.0950.0950.0908.0890.2877.5902.4746.4715.1757.7778.6679.6625.1679.6
(percent of economically active population)13.113.513.713.012.412.212.79.89.210.210.89.08.39.3
Sources: National Statistics Agency and Ministry of Labor.

Includes estimates for the unregistered unemployed. Only annual numbers are available for 1998–1999.

Sources: National Statistics Agency and Ministry of Labor.

Includes estimates for the unregistered unemployed. Only annual numbers are available for 1998–1999.

Table 9.Kazakhstan: Nominal and Real Wages, 1998–2002 1/(In tenge per month, unless otherwise indicated)
Jan.Feb.Mar.Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.
1998
Minimum wage2,3602,3602,3602,3802,3802,3802,4002,4002,4002,4402,4402,440
Average wage9,0169,0059,7229,4859,6609,9199,8589,6569,9349,9869,81111,192
Real wage index in percent of previous month8499107971021041009910310198114
Average wage (in US. dollars)119118127124126129128124125123119134
1999
Minimum wage2,4402,4402,4402,6502,6502,6502,6502,6502,6502,6802,6802,680
Average wage10,52010,5209,51310,5209,66010,4539,8589,65611,3089,9869,81112,607
Real wage index in percent of previous month117116105317103110102951109895122
Average wage (in U.S. dollars)1241231091048081757383717191
2000
Minimum wage2,6802,6802,6802,6802,6802,6802,6802,6802,6802,6802,6802,680
Average wage11,79612,03913,22313,24013,30013,98714,04014,06814,19914,54314,37816,886
Real wage index in percent of previous month8410211010010010510010010010197116
Average wage (in U.S. dollars)8586949494989899100102100117
2001
Minimum wage3,4843,4843,4843,4843,4843,4843,4843,4843,4843,4843,4843,484
Average wage15,16915,51616,17016,28616,88117,28817,79117,72617,91818,34817,89221,183
Real wage index in percent of previous month8910210410010310210310010110297117
Average wage (in U.S. dollars)105107111112116118121121122124121142
2002
Minimum wage4,1814,1814,1814,1814,1814,1814,1814,1814,1814,1814,1814,181
Average wage18,07818,30220,07019,50220,13920,30320,47920,47720,62021,17120,82724,388
Real wage index in percent of previous month84.7100.9109.496.710210010010010110297116
Average wage (in U.S. dollars)119.6120.6131.9127.8132133133133134137135157
Source: National Statistical Agency; and Fund staff estimates.

The real wage index takes December 1993 = 100.

Source: National Statistical Agency; and Fund staff estimates.

The real wage index takes December 1993 = 100.

Table 10.Kazakhstan: Monthly Wages by Sector, 1998–2002 1/(in tenge)
19981999200020012002
Total Average9,68311,86414,37417,30320,305
Agriculture and forestry3,8004,5055,4266,8518,144
Fishing4,9685,7376,6857,5628,572
Total industry13,91816,66220,80023,81226,059
Of which:
Mining20,31724,19731,24136,62539,683
Manufacturing11,72814,24618,34219,98221,999
Electricity, gas and water: production and distribution14,46115,68517,31820,02621,312
Construction11,65415,62520,95326,80531,480
Trade, car repair, and household goods8,13610,85913,08115,36618,566
Hotels and restaurants11,55819,17622,24421,51132,833
Transports and communications11,85214,79819,11224,41228,556
Financial sector19,35933,34536,03741,68648,592
Real estate10,52512,22815,86922,13228,787
Public administration9,94311,20012,31714,97016,985
Education7,2278,1638,4959,93712,698
Health and social services6,4166,7757,2358,28810,814
Other municipal, social, and personal services8,04610,28913,04516,87319,794
Sources: National Statistical Agency.

Data are not comparable with monthly wages in Table 10, since only the yearly data is revised when new information is available.

Sources: National Statistical Agency.

Data are not comparable with monthly wages in Table 10, since only the yearly data is revised when new information is available.

Table 11.Kazakhstan: Index of Investment in Constant Prices, 1998–2002 1/(1997=100)
19981999200020012002
TotalStateTotalStateTotalStateTotalStateTotalState
Total investment14213115088281144406231483209
Productive investment1215811711237858452231565150
Industry146651752536840413155561100
Agriculture4050405038050420400580450
Transport and communication151125619831464459272533176
Construction7331,7141,0441432,0179433,2229861,128200
Trade and catering4472675124831,5024331,8001501,378333
Other
Non-productive investment304423169140264206367219313275
Housing108109110472862441053512253
Other
Sources: National Statistical Agency, and staff estimates.

Prices deflated by sectoral price indices calculated by the Natioaal Statistical Agency.

Sources: National Statistical Agency, and staff estimates.

Prices deflated by sectoral price indices calculated by the Natioaal Statistical Agency.

Table 12.Kazakhstan: Financing of Investment, 1998–2002
19981999200020012002
preliminary
(In millions of tenge)
All resources264,204369,084595,664943,3981,193,113
State enterprises65,53460,60767,293136,932134,944
Budget resources26,96824,06839,25369,83390,855
Own resources13,90522,23125,42864,66030,927
Other 1/198,670308,477528,371806,4661,058,169
(Inpercent of total)
State enterprises24.816.411.314.511.3
Budget resources10.26.56.67.47.6
Own resources5.36.04.36.82.6
Other 1/75.283.688.785.588.7
Source: National Statistical Agency.

Includes mainly private sector investment.

Source: National Statistical Agency.

Includes mainly private sector investment.

Table 13.Kazakhstan: Sectoral Composition of Capital Investment in Current Prices, 1998–2002(In percent of total investment)
19981999200020012002
preliminary
Total100.0100.0100.0100.0100.0
Agriculture, hunting, and forestry0.40.71.41.31.5
Mining industry41.742.049.844.356.6
Manufacturing industry15.512.212.011.18.4
Production and distribution of electric power, gas and water6.05.33.02.93.1
Construction3.23.73.64.31.3
Trade, car repair, household goods2.55.83.53.32.2
Hotels and restaurants1.51.30.50.20.3
Transports and communication11.37.59.511.111.1
Financial sector0.61.81.61.30.8
Real estate9.38.89.711.55.5
State sector3.67.53.26.73.2
Education0.40.30.70.81.5
Health and social sectors2.00.90.20.41.4
Other municipal, social and personal services2.02.21.30.83.1
Source: National Statistical Agency.
Source: National Statistical Agency.
Table 14.Kazakhstan: Savings Investment Balance, 1998–2002 1/
19981999200020012002
Prel. Estim.
(In percent of GDP by final use)
Consumption89.680.773.372.168.3
Net Exports−4.82.38.60.01.6
Investment:15.115.517.324.628.6
Public2.01.72.03.13.4
Private13.113.815.321.525.3
Change in Stocks0.11.50.83.31.5
Total Savings:15.217.118.127.930.1
Domestic Savings9.617.022.923.928.2
Public−5.8−2.71.56.55.3
Private15.419.721.417.422.9
Foreign Savings5.60.1−4.84.01.9
Statistical Discrepancy 2/6.6−3.9−0.23.80.0
Source: Kazakhstan authorities; and Fund staff estimates.

The data for 2000–02 include adjustments to reflect revisions of the balance of payments by the National Bank and the staff. 2002 values are staff estimates based on preliminary data for GDP by production, balance of payments, and investment from enterprise surveys.

Difference between GDP by production and by final use.

Source: Kazakhstan authorities; and Fund staff estimates.

The data for 2000–02 include adjustments to reflect revisions of the balance of payments by the National Bank and the staff. 2002 values are staff estimates based on preliminary data for GDP by production, balance of payments, and investment from enterprise surveys.

Difference between GDP by production and by final use.

Table 15.Kazakhstan: Privatized Enterprises, 1998–2002 1/
19981999200020012002
(In units)
Industry15226263934
Construction50165105
Agriculture94-2510
Transport7314750
Transport and communication1317
Trade and catering28714169114
Personal and public services1697454
Financial activity41
Other (unclassified) 2/2,2671,8551,4702,1031,752
Of which: unfinished construction665550706805
Total3,0732,3181,7242,2051,823
(In percent of total)
Industry4.91.11.51.81.9
Construction1.60.70.30.50.3
Agriculture0.30.20.01.10.5
Transport2.46.32.9
Transport and communication0.60.9
Trade and catering9.36.14.00.50.2
Personal and public services5.53.23.1
Financial activity0.20.1
Other (unclassified) 2/73.980.085.395.396.1
Of which: unfinished construction2.12.42.932.044.2
(In units)
Privatization by type
Small-scale privatization2,5352,1871,6422,0591,756
Mass privatization5161317914667
Case-by-case privatization130342
Sources: National Statistical Agency (data for 1998–2000), and State Property & Privatization Committee of MoF (data for 2001–2002).

New classification was introduced since 2001.

Largely individual small scale assets.

Sources: National Statistical Agency (data for 1998–2000), and State Property & Privatization Committee of MoF (data for 2001–2002).

New classification was introduced since 2001.

Largely individual small scale assets.

Table 16.Kazakhstan: Summary Accounts of the National Bank of Kazakhstan, 2000–March 2003(In billions of tenge, end period stocks unless otherwise indicated)
19992000200120022003
DecemberDecemberMarchJuneSeptemberDecemberMarchJuneSeptemberDecemberMarch
Net Foreign Assets211.5302.0356.4336.1362.5377.9400.0434.0483.9488.5595.3
Net Domestic Assets−85.2−167.4−225.1−192.2−203.5−201.6−244.2−258.0−298.3−280.2−388.9
Domestic credit24.3−47.0−120.1−81.5−78.0−71.9−111.0−115.9−91.0−113.4−231.4
Net Credit to Government13.3−14.1−94.1−73.0−76.6−59.5−91.6−86.1−56.7−56.0−120.3
Credit to banks (net)0.4−38.8−20.5−3.8−3.1−5.4−4.6−7.8−11.4−24.6−62.3
Credit to the rest of the economy 1/10.76.0−5.5−4.61.7−7.0−14.8−22.0−22.9−32.7−4.8
Other Items net−109.6−120.4−105.0−110.7−125.5−129.7−133.1−142.1−207.3−166.8−157.5
Reserve Money126.2134.7131.4143.8159.0176.3155.8176.0185.5208.3206.4
Currency outside NBK110.4116.3110.3119.3133.9145.5135.9146.9155.4177.9175.8
Commercial bank deposits13.314.019.022.322.728.317.725.926.129.428.1
Demand, time and enterprise deposits2.54.31.62.22.32.62.23.14.00.92.5
Memorandum items:
(in millions of US dollars, eop)
Net International Reserves1,540.22,093.72,453.82,297.62,456.72,506.22,625.42,831.03,132.03,135.73,923.3
National Fund of the Republic of Kazakhstan 2/660.0956.61182.31,240.41,306.31,655.61,669.61,917.31,999.0
Reserve money
Percentage change from end of previous quarter−2.49.510.610.8−11.612.95.412.2−0.9
Percentage change from end of previous year56.95.3−2.46.818.130.9−11.6−0.25.218.1−0.9
12-month percentage change56.95.328.619.315.430.918.622.416.718.132.5
Exchange rate NBK, eop138.2144.5145.5146.5147.7150.9152.5153.4154.6155.9151.8

NBK notes holdings by non-banks are staff estimates for 1999, 2000 and March 2001.

Transitory deposits in tenge not included.

NBK notes holdings by non-banks are staff estimates for 1999, 2000 and March 2001.

Transitory deposits in tenge not included.

Table 17.Kazakhstan: Monetary Survey, 2000–March 2003 1/(In billions of tenge, end period stocks unless otherwise indicated)
19992000200120022003
DecemberDecemberMarchJuneSeptemberDecemberMarchJuneSeptemberDecemberMarch
National Bank of Kazakhstan
Net Foreign Assets211.3302.0356.4336.1362.5377.9400.0434.0483.9488.5595.3
Net domestic assets−85.2−167.4−225.1−192.2−203.4−201.6−244.2−258.0−298.3−280.2−388.9
Domestic credit24.3−47.0−120.1−81.5−78.0−71.9−111.0−115.9−91.0−113.4−231.4
Credit to Govrnment13.3−14.1−94.1−73.0−76.6−59.5−91.6−86.1−56.7−56.0−120.3
Credit to banks 2/0.4−38.8−20.5−3.8−3.1−5.4−4.6−7.8−11.4−34.6−62.3
Credit to the rest of the economy 2/10.76.0−5.5−4.61.7−7.0−14.8−22.0−22.9−32.7−48.9
Other items (net)−109.6−120.4−105.0−110.7−125.4−129.7−133.1−142.1−207.4−166.8−157.5
Reserve Money126.2134.7131.4143.8159.0176.3155.8176.0185.5208.3206.4
Currency outside NBK110.4116.3110.8119.3133.9145.5135.9146.9155.4177.9175.8
Deposits1S.618.320.624.525.130.819.929.130.130.430.6
Banking System
Net Foreign Assets251.8306.0348.5322.5352.7313.8332.8346.2399.8402.1476.7
Net domestic assets22.6101.179.4153.8182.9267.1243.2295.0298.3399.6363.2
Domestic credit207.9346.7302.8396.5449.2560.1544.9616.8692.2778.9756.4
Net credit to Government37.840.6−32.4−11.8−11.48.8−13.213.044.738.5−15.2
Credit to economy170.1306.1335.1403.4460.5547.6552.2599.6643.9738.6767.2
Claims on Local Government3.86.04.33.61.84.4
Capital Accounts and Other Items Net−185.3−245.6−223.4−242.7−266.2−293.0−301.7−321.8−393.9−379.4−387.2
NBK Notes outside the banking system 2/2.07.69.18.21.810.618.425.526.436.853.0
Broad Money272.4399.5418.7468.1533.8570.4557.7615.7671.7764.9793.0
Currency in circulation103.5106.4102.0110.5124.2131.2123.9135.0141.4161.7159.2
Deposits168.9293.0316.7357.5409.6439.2433.8480.7530.4603.2633.8
Tenge deposits88.6143.6153.7177.8174.5173.4168.6188.3223.8241.4283.6
Foreign exchange deposits80.3149.4163.1179.7235.1265.9265.2292.4306.6361.6350.1
Memorandum Item:
Net International Reserved (in $ millions)1,540.22,093.72,453.82,297.62,456.72,506.22,625.42,831.03,132.03,135.73,923.3
NFRK (in S millions) 3/660.0956.61182.31,240.41,306.31,655.61,669.61,917.31999.0
Annual Growth Rates (in percent)
Broad money84.445.960.847.148.442.833.231.525.834.142.2
Reserve money56.95.328.619.315.430.918.622.416.718.132.5
Credit to the economy51.181.083.793.187.578.964.846.839.834.938.9
Sources: Data provided by the Kazakhstani authorities; and staff estimates.

The Development Bank of Kazakhstan (DBK) has been removed from the monetary survey as it is not a deposit taking money bank. Nevertheless, some claims on, and liabilities to, the DBK (since September 2001) remain to be reclassified.

NBK notes holdings by non-banks are staff estimates for 1999, 2000 and March 2001.

Transitory deposits in tenge not included.

Sources: Data provided by the Kazakhstani authorities; and staff estimates.

The Development Bank of Kazakhstan (DBK) has been removed from the monetary survey as it is not a deposit taking money bank. Nevertheless, some claims on, and liabilities to, the DBK (since September 2001) remain to be reclassified.

NBK notes holdings by non-banks are staff estimates for 1999, 2000 and March 2001.

Transitory deposits in tenge not included.

Table 18.Kazakhstan: Interest Rates, 1998–2002(In percent; end-of-period)
Inflation

12-month average
NBK refinance

rate
Yield on 3-month

Treasury bills
Commercial bank short

term lending rales 1/2/
Commercial bank lime deposit rates 1/2/
HouseholdsLegal entities
1998January10.818.515.821.59.89.2
February10.113.516.822.29.810.1
March10.018.518.222.58.88.0
April9.718.517.523.213.47.7
May9.618.518.921.211.45.8
June7.918.518.121.811.77.0
July6.918.518.521.711.49.8
August6.120.520.323.513.910.9
September6.220.521.519.814.310.0
October4.320.521.821.215.611.6
November2.825.024.519.714.118.5
December1.925.025.818.414.58.5
1999January1.025.026.318.317.210.7
February−0.325.026.319.817.413.8
March−1.225.026.322.518.815.2
April2.825.024.713.312.0
May3.925.024.213.19.1
June9.825.025.114.19.7
July11.222.021.625.616.28.1
August11.920.021.624.916.55.6
September12.820.026.725.68.7
October14.320.028.118.79.4
November16.318.016.623.320.27.9
December17.818.016.621.413.47.9
2000January19.818.016.719.716.59.4
February20.218.016.421.916.710.1
March20.416.016.022.310.56.7
April15.616.015.622.017.66.4
May14.716.014.620.720.07.5
June10.214.013.120.316.57.8
July9.514.012.620.218.64.1
August10.014.09.919.418.04.4
September9.814.09.520.216.25.0
October10.414.07.620.615.56.2
November10.214.07.518.215.96.4
December9.814.06.819.915.66.1
2001January8.214.06.718.816.43.7
February8.312.56.618.614.77.6
March9.612.55.620.213.77.7
April9.212.55.419.814.66.5
May9.312.55.220.214.76.2
June9.212.05.018.113.96.4
July9.112.04.917.014.44.5
August9.012.04.818.214.45.8
September8.911.05.118.813.75.7
October8.711.05.418.113.85.1
November8.59.017.113.65.5
December8.49.016.412.85.6
2002January6.09.05.314.513.15.3
February5.89.016.112.55.2
March5.68.016.211.25.1
April5.48.05.315.711.55.0
May5.48.05.316.111.34.8
June5.58.015.311.14.7
July5.68.015.611.35.1
August5.78.021.310.24.9
September5.78.015.79.45.5
October5.88.015.610.85.3
November5.87.517.112.05.3
December5.97.514.511.05.4
Source: National Bank of Kazakhstan.

Credits and deposits in tenge.

Rates on new credits and deposits.

Source: National Bank of Kazakhstan.

Credits and deposits in tenge.

Rates on new credits and deposits.

Table 19.Kazakhstan: Stock Exchange (KASE) Weighted Average Exchange Rates, 1998–2002 1/(End-of-period)
Tenge per U.S. dollarTenge per Euro 2/Tenge per Russian ruble
Period averageEnd-of-periodPeriod averageEnd-of-periodPeriod averageEnd-of-period
1998January76.3276.4042.4943.31
February76.4076.3842.4342.40
March76.5176.6142.0841.86
April76.6076.6742.6242.90
May76.8276.8643.4543.20
June77.0177.2043.1842.80
July77.3777.6043.0043.00
August78.4378.8843.7943.90
September79.6880.63
October81.5281.9050.2251.00
November82.6183.0049.3649.36
December83.6884.0050.2050.20
1999January84.5785.12
February85.7186.45
March87.4288.10
April113.80114.8062.1662.10
May119.14129.0367.4469.31
June131.88132.3170.0870.30
July132.45131.9169.9672.40
Angust131.81132.2671.6171.08
September135.78140.1173.1676.40
October141.21140.2277.4375.65
November139.16137.9073.6471.41
December138.19138.2571.7771.50
2000January139.06139.3872.1570.78
February139.90140.4470.7771.20
March141.42141.9570.2470.30
April142.21142.0169.4766.78
May142.29142.3066.6365.90
June142.65142.8668.7068.70
July142.79142.7169.3269.50
August142.60142.5265.9265.75
September142.69142.5863.2862.44
October142.57142.5863.8162.50
November144.01144.15
December144.98145.4065.4065.30
2001January145.38145.11
February145.33145.285.075.07
March145.48145.4268.2568.255.085.06
April145.54145.775.045.05
May146.13146.4765.8665.865.055.03
June146.59146.805.045.04
July146.76147.075.025.02
August147.17147.305.035.03
September147.70147.805.015.02
OctoberI48.03148.13132.85132.855.015.01
November148.56148.95130.80130.805.004.97
December150.32150.945.005.00
2002January151.62151.874.964.95
February152.02152.124.924.92
March152.22152.44133.03133.554.904.90
April152.75152.994.904.91
May152.96153.184.914.91
June153.13153.274.874.86
July153.90154.264.884.88
August154.31154.534.894.89
September154.52154.724.884.89
October154.41154.474.874.89
November154.38154.884.864.86
December155.68155.854.894.90
Source: National Bank of Kazakhstan.

The absense of entry indicates no trade look, place.

Tengeper Deutsche Mark up to May 2001.

Source: National Bank of Kazakhstan.

The absense of entry indicates no trade look, place.

Tengeper Deutsche Mark up to May 2001.

Table 20.Kazakhstan: Number of Commercial Banks and Branches, 1998–2002(End-of-period)
Commercial banksBranches
State 1/InterstateWith foreign capitalOtherTotal 1/Total
TotalSubsidiaries
19981123114671459
19991122123155426
2000January1122123054426
February1122122953423
March1121122952427
April1119122748418
May1120122648419
June1120122648414
July1119112647418
August1119112647419
September1118112747419
October1118112747419
November1119122748418
December1116123048418
2001January1116122947420
February1116122947422
March1116122846422
April1116122947424
May1116122644425
June1116122644425
July1116122644422
August1115122744422
September1116122745423
October2116122746423
November2116122746419
December2116112544400
2002January2116112443401
February2116112342403
March2115112442381
April2116112342382
May2116112241367
June2115112139368
July215112138368
August216112038368
September216112038369
October217111938369
November217111938366
December217111938368
Source: National Bank of Kazakhstan.

Including Development Bank which does not take deposits from public, and Exrmbank which is not active.

Source: National Bank of Kazakhstan.

Including Development Bank which does not take deposits from public, and Exrmbank which is not active.

Table 21a.Kazakhstan: General Government Fiscal Operations, 1999–2002(In billions of tenge)
199920002001 1/2002 1/
QlQ2Q3Q4QlQ2Q3Q4
Total revenue and grants354565229436628834177381607848
Total revenue351362229435627833177381607848
Of which: Oil revenue1986761231572153152101165
Current revenue350560227432624825176380601838
Capital revenue1223491259
Tax revenues323521181367544724168351562793
Income Tax902158516523930569134218322
Corporate income tax55164701341902375398162244
Of which:Oil revenue76735679311120276297
Non-Oil revenue47963567971263370100147
Personal income tax35511531496916365677
Social Tax7099296192124286195134
Property taxes252791927338182635
Domestic taxes on goods, works and services1251625310916823454119192258
VAT9011536691131603887140176
Excises191951116226121925
Receipts from use of natural resources10221027354810183154
Oil revenues 2/5139233041691735
Non-oil5924374101419
Business and professional licences7512451123
Taxes on international trade and external transactions121861219267162639
Other taxes1100112355
Nontax revenues 3/27394765791008293946
Income from capital transactions1223491259
Grants3300010000
Total expenditure and net lending and transfers458584125322497746141350549794
Total expenditure and net lending458584125322497746141350549794
Total expenditure440567124314481725138339531776
Current expenditures413524116281428634126301457649
Expenditures on goods and services67170268402180278403
Wages2151741066595134
Employers’ contributions49121691318
Goods and services13294625493148218
Other expenditures an goods and services308113525132232
Interest193551922385192439
Domestic9146914610
Foreign2641416294151829
Current transfers4492139194103154208
Capital expenditures27438345391133874126
Net lending18171816213111718
Extending of credits; share participation3132334162332
Repayment of credits257135613
Overall budget balance−101−201041131318836315854
Statistical discrepancy 4/−511−3−3−5−7263480−3
Financing9531−107−116−135−95−10322−57
Domestic financing (net)7−21−85−52−16−23−2113033
Banking system5−1−68−53−51−32−2053628
National Back of Kazakhstan−12−29−75−59−63−45−32−2733
Commercial banks172876111412313325
Non-bank3−20−19159−2−4−64
Foreign financing, net5130013290−2−3−56
Disbursements86414914471018
Amortization−35−11−4−7−11−4−9−13−74
Privatization receipts37227577788218181919
National Fund of Republic of Kazakhstan00−96−142−169−182−6−15−24−53
Memorandum items:
Nominal GDP2,0162,6006441,4532,4853,2517721,6722,7543,747
Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Includes a US$210 million bonus payment from a large oil company in 2001.

The large discrepancy in the third quarter of 2002 is related to the repayment of a $350 million eurobond, in which funds were transferred from the banking system to an escrow account in the third quarter, but repayment to foreign creditors did not take place until the fourth quarter.

Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Includes a US$210 million bonus payment from a large oil company in 2001.

The large discrepancy in the third quarter of 2002 is related to the repayment of a $350 million eurobond, in which funds were transferred from the banking system to an escrow account in the third quarter, but repayment to foreign creditors did not take place until the fourth quarter.

Table 21b.Kazakhstan: General Government Fiscal Operations, 1999–2002(In percent of GDP)
199920002001 1/2002 1/
QlQ2Q3Q4QlQ2Q3Q4
Total revenue and grants17.521.735.630.025.325.722.922.822.022.6
Total revenue17.421.635.630.025.225.622.922.822.022.6
Of which: Oil revenue1.03.311.88.56.36.64.03.13.74.4
Current revenue17.421.535.329.825.125.422.822.721.822.4
Capital revenue0.00.10.20.20.10.30.10.10.20.3
Tax revenues16.020.028.125.321.922.321.821.020.421.2
Income Tax4.58.313.111.49.69.49.08.07.98.6
Corporate income tax2.76.310.89.27.67.36.95.85.96.5
Of which:Oil revenue0.42.65.54.63.73.42.51.62.22.6
Non-Oil revenue2.33.75.44.63.93.94.34.23.63.9
Personal income tax1.82.02.32.22.02.12.12.22.02.1
Social Tax3.53.84.54.23.73.83.63.73.53.6
Property taxes1.21.01.41.31.11.01.01.10.90.9
Domestic taxes on goods, works and services6.26.28.27.56.87.27.07.17.06.9
VAT4.44.45.64.74.64.94.95.25.14.7
Excises0.90.70.80.80.70.70.80.70.70.7
Receipts from use of natural resources0.50.81.61.81.41.51.21.11.11.4
Oil revenues 2/0.20.51.31.61.21.30.70.50.60.9
Non-oil0.30.40.20.20.20.20.50.60.50.5
Business and professional licences0.30.20.20.20.10.10.10.10.10.1
Taxes on international trade and external transactions0.60.70.90.80.80.80.91.01.01.0
Other taxes0.10.00.0−0.00.00.00.20.20.20.1
Nontax revenues 3/1.31.57.24.53.23.11.01.71.41.2
Income from capital transactions0.00.10.20.20.10.30.10.10.20.3
Grants0.10.10.00.00.00.00.00.00.00.0
Total expenditure and net lending and transfers22.722.519.422.220.023.018.321.019.921.2
Total expenditure and net lending22.722.519.422.220.023.018.321.019.921.2
Total expenditure21.821.819.321.619.422.317.920.319.320.7
Current expenditures20.520.213.119.317.219.516.318.016.617.3
Expenditures on goods and services10.511.710.812.410.710.110.7
Wages3.33.53.03.33.93.53.6
Employers’ contributions0.60.60.50.50.60.50.5
Goods and services2.02.01.97.85.55.45.8
Other expenditures on goods and services4.65.65.40.80.80.80.9
Interest1.01.40.81.30.91.20.71.10.91.0
Domestic0.40.20.30.20.30.20.30.20.3
Foreign1.00.61.00.60.90.50.90.70.8
Current transfers6.86.45.66.06.15.65.5
Capital expenditures1.41.61.22.32.12.81.72.32.73.4
Net lending0.90.70.10.60.70.70.30.60.60.5
Extending of credits; share participation0.40.90.91.00.90.80.8
Repayment of credits0.30.40.30.40.30.20.4
Overall budget balance−5.0−0.816.27.85.32.74.61.92.11.4
Statistical discrepancy 4/−0.30.4−0.5−0.2−0.2−0.23.32.02.9−0.1
Financing4.71.2−16.7−8.0−5.4−2.9−1.30.20.8−1.5
Domestic financing (net)0.4−0.8−13.4−3.6−1.9−0.7−2.80.11.10.9
Banking system0.20.0−10.5−3.6−2.1−1.0−2.50.31.30.8
National Bank of Kazakhstan−0.6−1.1−11.6−4.1−2.5−1.4−4.2−1.60.10.1
Commercial banks0.81.11.10.40.50.41.61.91.20.7
Non-bank0.1−0.8−2.90.10.20.3−0.2−0.2−0.20.1
Foreign financing, net2.61.20.00.10.10.90.0−0.1−0.1−1.5
Disbursements4.31.60.70.60.60.50.40.40.5
Amortization−1.7−0.4−0.6−0.5−0.5−0.5−0.5−0.5−2.0
Privatization receipts1.80.811.65.33.12.52.4l.10.70.5
National Fund of Republic of Kazakhstan0.00.0−14.9−9.8−6.8−5.6−0.8−0.9−0.9−1.4
Memorandum items:
Nominal GDP (in billions of tenge)2,0162,6006441,4532,4853.2517721,6722,7543,747
Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Includes a US$210 million bonus payment from a Large oil company in 2001.

The large discrepancy in the third quarter of 2002 is related to the repayment of a $350 million eurobond, in. which funds were transferred from the banking system to an escrow account in the third quarter. but repayment to foreign creditors did not take place until the fourth Quarter.

Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Includes a US$210 million bonus payment from a Large oil company in 2001.

The large discrepancy in the third quarter of 2002 is related to the repayment of a $350 million eurobond, in. which funds were transferred from the banking system to an escrow account in the third quarter. but repayment to foreign creditors did not take place until the fourth Quarter.

Table 22a.Kazakhstan: Republican Government Fiscal Operations, 1999–2002(In billions of tenge)
199920002001 1/2002 1/
QlQ2Q3Q4QlQ2Q3Q4
Total revenue and grants172297135245348497111239389545
Total revenue189294135245347497111239389545
Of which: Oil revenue8465786105203284489149
Non-oil revenue1612497815924229483194300397
Current revenue168292134243345491111238386540
Capital revenue1212260036
Tax revenues15226390183274402104212350498
Income Tax288337711001585398162244
Corporate income tax278237711001585398162244
Of which: Oil revenue43418334611120276297
Non-Oil revenue2448193853483370100147
Personal income tax1100000000
Social Tax22000000000
Property taxes1100000000
Domestic taxes on goods, works and services108141471001542164497159213
VAT8110333641061513683134167
Excises15154913181134
Receipts from use of natural resources921102634477122242
Oil revenues 2/49222841691735
Non-oil514761357
Business and professional licences3100110001
Taxes on international trade and external transactions111861219267162639
Other taxes1100111222
Nontax revenues 3/1629446071897263642
Income from capital transactions1212260036
Grants2300000000
Total expenditure and net lending and transfers2813275215924740692215337484
Total expenditure and net lending2383397218027545085208327469
Total expenditure2663227317426443579197311453
Current expenditures24931070158251376181275390
Expenditures on goods and services18078125183
Wages36193043
Employers’ contributions4234
Goods and services1174672107
Other current expenditures23122030
Interest21355182137192438
Domestic8459
Foreign29151829
Current transfers15984126169
Capital expenditures1713261359163663
Of which: Capital transfers to other levels of government851013
Net lending21170612156111516
Extending of credits; share participation278152027
Repayment of credits1224411
Net transfers to other levels of government−7−12−20−21−28−44771014
Transfers from other levels of government37543157798412263949
Transfers to other levels of government30431137514019335064
Capital transfer front other levels of government000
Overall budget balance (cash)−109−3083861009219245262
Statistical discrepancy 4/00000−4625746
Financing10930−83−86−100−96−13222−56
Domestic financing (net)24−21−61−37−38−23−2413034
Banking system−32−2243630
National Bank of Kazakhstan−45−32−2733
Commercial banks1410313326
Non-bank9−2−4−64
Foreign financing, net5130013290−2−3−56
Disbursements471018
Amortization491374
Privatization receipts34217576778118181818
National Fund of Republic of Kazakhstan (NFRK)00−96−126−141−182−6−15−24−53
Memorandum items:
Nominal GDP2,0162,6006441,4532,4353,2517721,6722,7543,747
Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil loyalties, bonuses and production sharing agreements.

Includes a US$210 million bonus payment from a large oil company in 2001.

The large discrepancy in the third quarter of 2002 is related to the repayment of a $350 million eurobond, in which funds were transferred from the banking system to an escrow account in the third quarter, but repayment to foreign creditors did not take place until the fourth quarter.

Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil loyalties, bonuses and production sharing agreements.

Includes a US$210 million bonus payment from a large oil company in 2001.

The large discrepancy in the third quarter of 2002 is related to the repayment of a $350 million eurobond, in which funds were transferred from the banking system to an escrow account in the third quarter, but repayment to foreign creditors did not take place until the fourth quarter.

Table 22b.Kazakhstan: Republican Government Fiscal Operations, 1999–2002(In percent of GDP)
199920002001 1/2002 1/
Q1Q2Q3Q4QlQ2Q3Q4
Total revenue and grants8.511.420.916.914.015.314.414.314.114.6
Total revenue8.411.320.916.914.015.314.414.314.114.6
Of which: Oil revenue0.41.88.85.94.26.23.62.73.24.0
Non-oil revenue8.09.612.110.99.89.010.311.610.910.6
Current revenue8.311.220.816.713.915.114.414.314.014.4
Capital revenue0.00.10.20.10.10.20.00.00.10.2
Tax revenues7.510.113.912.611.012.413.512.712.713.3
Income Tax1.43.25.74.94.04.96.95.85.96.5
Corporate income tax1.43.15.74.94.04.96.95.85.96.5
Of which: Oil revenue0.21.32.72.31.93.42.51.62.22.6
Non-Oil revenue1.21.93.02.62.21.54.34.23.63.9
Personal income tax0.00.00.00.00.00.00.00.00.00.0
Social Tax0.10.80.00.00.00.00.00.00.00.0
Property taxes0.00.00.00.00.00.00.00.00.00.0
Domestic taxes on goods, works and services5.45.47.36.96.26.75.65.85.85.7
VAT4.04.05.14.44.34.64.74.94.94.4
Excises0.70.60.60.60.50.50.10.10.10.1
Receipts from use of natural resources0.50.81.61.81.41.50.90.70.81.1
Oil revenues 2/0.21.31.51.11.30.70.50.60.9
Non-oil0.30.20.30.30.20.20.20.20.2
Business and professional licences0.10.00.00.00.00.00.00.00.00.0
Taxes on international trade and external transactions0.60.70.90.80.80.80.91.01.01.0
Other taxes0.05.00.00.00.00.00.10.10.10.1
Nontax revenues 3/0.81.16.94.12.92.70.91.61.31.1
Income from capital transactions0.00.10.20.10.10.20.00.00.10.2
Grants0.10.1CO0.00.00.00.00.00.00.0
Total expenditure and net lending and transfers13.912.68.111.010.012.512.012.912.212.9
Total expenditure and net lending14.313.011.212.411.113.811.112.411.912.5
Total expenditure13.212.411.312.010.613.410.311.811.312.1
Current expenditures12.411.910.911.610.111.610.810.010.4
Expenditures on goods and services5.54.74.54.9
Wages1.11.11.11.1
Employers’ contributions0.10.10.10.1
Goods and services3.62.72.62.8
Other current expenditures0.70.70.70.8
Interest1.11.30.71.30.91.11.10.91.0
Domestic0.30.20.20.2
Foreign0.90.90.70.8
Current transfers4.95.04.64.5
Capital expenditures0.80.50.40.40.51.81.01.31.7
Of which: Capital transfers to other levels of government0.20.30.40.3
Net lending1.10.7−0.10.40.50.50.70.60.4
Extending of credits; share participation0.00.00.00.00.00.80.90.70.7
Repayment of credits0.00.00.00.00.00.40.20.20.3
Net transfers to other levels of government−0.3−0.5−3.1−1.4−1.1−1.40.40.40.4
Trartsfers from other levels of government1.82.14.83.93.22.61.61.41.3
Transfers to other levels of government1.51.61.62.52.11.12.01.81.7
Capital transfer from other levels of government0.00.00.0
Overall budget balance (cash)−5.4−1.212.85.94.02.82.41.41.91.6
Statistical discrepancy 4/0.00.00.00.00.0−0.11.52.70.1
Financing5.41.2−12.8−5.9−4.0−2.9−1.60.10.8−1.5
Domestic financing (net)1.2−0.8−9.5−2.5−1.5−0.7−3.10.01.10.9
Banking system−1.0−2.90.21.30.8
National Bank of Kazakistan−1.4−4.2−1.60.10.1
Commercial banks0.41.31.81.20.7
Non-bank0.00.00.00.05.00.3−0.2−0.2−0.20.1
Foreign financing, net2.61.20.00.10.10.90.0−0.1−0.1−1.5
Disbursements0.50.40.40.5
Amortization0.50.50.52.0
Privatization receipts1.70.811.65.23.12.52.31.10.70.5
National Fund of Republic of Kazakhstan (NFRK)0.00.0−14.9−8.7−5.7−5.6−0.8−0.9−0.9−1.4
Memorandum items:
Nominal GDP (in billions of tenge)2,0162,6006441,4532,4853,2517721,6722,7543,747
Source: Data provided by Kazakistani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Includes a US$210 million bonus payment from a large oil company in 2001.

The large discrepancy in the third quarter of 2002 is related to the repayment of a $350 million eurobond, in which fluids were transferred from the banking system to an escrow account in the third quarter, but repayment to foreign creditors did not take place until the fourth quarter.

Source: Data provided by Kazakistani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Includes a US$210 million bonus payment from a large oil company in 2001.

The large discrepancy in the third quarter of 2002 is related to the repayment of a $350 million eurobond, in which fluids were transferred from the banking system to an escrow account in the third quarter, but repayment to foreign creditors did not take place until the fourth quarter.

Table 23a.Kazakhstan: Local Government Fiscal Operations, 1999–2002(In billions of tenge)
199920002001 1/2002 1/
Q1Q2Q3Q4QlQ2Q3Q4
Totai revenue and grants1802689419028033765143218302
Total revenue3822689419028033665143218302
Of which: Oil revenue114019375212371216
Non-oil revenue1712277515322832463135206286
Current revenue1822679418927833465141215299
Capital revenue0031231234
Tax revenues1712589118427032264139212295
Income Tax14716365677
Corporate income tax780000
Of which: Oil revenue00000
Non-Oil revenue780000
Personal income tax6916365677
Social Tax124286195134
Property taxes338182635
Domestic taxes on goods, works and services1811233345
VAT925610
Excises45111621
Receipts from use of natural resources136912
Oil revenues 2/00000
Non-oil136912
Business and professional licences40122
Taxes on international trade and external transactions00000
Other taxes01223
Nontax revenues1110358111234
Income from capital transactions001123I234
Grants−2000000000
Total expenditure and net tending and transfers1712577216325034068139216310
Total expenditure and net lending16524552142222304152236338
Total expenditure16924551140217298148230336
Current expenditures15821546112178258121183259
Expenditures on goods and services222102153219
Wages70466591
Employers’ contributions1381115
Goods and services1374776111
Other current expenditures3123
Interest000001011
Domestic1011
Foreign0000
Current transfers35192939
Capital expenditures11306284041274876
Of which: Capital transfers to other levels of government000
Net lending−40I256462
Extending of credits; share participation11539
Repayment of credits6127
Net transfers to other levels of government71220212836−12−20−27
Transfers from other levels of government3D4211375140335064
Transfers to other levels of government375431577984263949
Capital transfer from other levels of government851013
Overall budget balance911222730−4−332−8
Statistical discrepancy011−3−3−5−342−9
Financing−9I−25−31−351310−1
Domestic financing (net)−110−25−15−80210−1
Banking system0210−1
National Bank of Kazakhstan00000
Commercial banks0210−1
Non-bank00000
Foreign financing, net0000000000
Disbursements
Amortization
Privatization receipts3101110000
National Fund of Republic of Kazakhstan (NFRK)000−16−2800000
Memorandum items:
Nominal ODP2,0162,6006441,4532,4353,2517721,6722,7543,747
Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Table 23b.Kazakhstan: Local Government Fiscal Operations, 1999–2002(In percent of GDP)
199920002001 1/2002 1/
QlQ2Q3Q4QlQ2Q3Q4
Total revenue and grants8.910.314.613.111.310.48.58.57.98.1
Total revenue9.010.314.613.111.31038.58.57.98.1
Of which: Oil revenue0.51.53.02.52.10.40.40.40.40.4
Non-oil revenue8.58.711.610.69.210.08.18.17.57.6
Current revenue9.010.314.513.011.210.38.48.47.88.0
Capital revenue0.00.00.10.10.10.10.10.10.10.1
Tax revenues8.59.914.112.710.99.98.38.37.77.9
Income Tax4.52.12.22.02.1
Corporate income tax2.40.00.00.00.0
of which: Oil revenue0.00.00.00.00.0
Non-Oil revenue2.40.00.00.00.0
Personal income tax2.12.12.22.02.1
Social Tax3.83.63.73.53.6
Property taxes1.01.01.10.90.9
Domestic taxes on goods, worts and services0.61.41.41.21.2
VAT0.30.30.30.20.3
Excises0.10.70.60.60.6
Receipts from use of natural resources0.00.40.40.30.3
Oil revenues 2/0.00.00.00.00.0
Non-oil0.00.40.40.30.3
Business end professional licences0.10.10.10.10.1
Taxes on international trade and external transactions0.00.00.00.00.0
Other taxes0.00.10.10.10.1
Nontax revenues0.50.40.40.40.30.40.10.10.10.1
Income from capital transactions0.00.00.10.10.10.10.10.10.10.1
Grants−0.10.00.00.00.00.00.00.00.00.0
Total expenditure and net lending and transfers8.59.911211.210.010.58.88.37.88.3
Total expenditure and net lending8.19.48.19.88.99.49.18.69.0
Total expenditure8.49.48.09.68.79.28.88.49.0
Current expenditures7.98.37.17.77.17.97.26.66.9
Expenditures on goods and services6.86.15.65.9
Wages2.12.72.42.4
Employers’ contributions0.40.40.40.4
Goods and services4.22.82.73.0
Other current expenditures0.10.10.10.1
Interest0.00.00.00.00.00.00.00.00.0
Domestic0.00.00.00.0
Foreign0.00.00.00.0
Current transfers1.11.11.01.0
Capital expenditures0.51.10.91.91.61.21.61.72.0
Of which: Capital transfers to other levels of government0.00.00.0
Net lending−0.20.00.10.20.20.20.20.20.1
Extending of credits; share participation0.40.30.30.2
Repayment of credits0.20.10.10.2
Net transfers to other levels of government0.30.53.11.41.11.1−0.70.7−0.7
Transfers from other levels of government1.51.61.62.52.11.22.01.81.7
Transfers to other levels of government1.82.14.83.93.22.61.61.41.3
Capital transfer from other levels of government0.20.30.40.3
Overall budget balance0.40.43.41.91.2−0.1−0.30.20.1−0.2
Statistical discrepancy0.00.4−0.5−0.2−0.2−0.10.30.1−0.2
Financing−0.40.0−3.8−2.1−1.40.00.30.10.00.0
Domestic financing (net)−0.60.0−3.9−1.0−0.30.00.30.00.00.0
Bunking system0.00.30.00.00.0
National Bank of Kazakhstan0.00.00.00.00.0
Commercial banks0.00.30.00.00.0
Non-bank0.00.00.00.00.0
Foreign financing, net0.00.00.00.00.00.00.00.00.00.0
Disbursements
Amortization
Privatization receipts0.10.00.10.00.00.00.00.00.00.0
National Fund of Republic of Kazakhstan (NFRK)0.00.00.0−1.1−1.10.00.00.00.00.0
Memorandum items:
Nominal GDP (in billions of tenge)2,016.12,599.9643.81,453.02,485.53,250.6771.61,671.62,753.93,747.2
Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Source: Data provided by Kazakhstani authorities.

Cumulative since the end of the previous year.

Oil royalties, bonuses and production sharing agreements.

Table 24.Kazakhstan: General Government Expenditure by Functional Classification, 1999–2002
199920002001 1/2002 1/
Q1Q2Q3Q4QlQ2Q3Q4
(In billions of tenge)
Expenditure and net lending458.3584.2124.7322.3497.2746.2141.0350.2548.7794.0
Expenditure440.3567.0124.2314.3480.9724.8138.4339.4531.4775.6
General Government services28.934.39.919.430.750.88.519.030.045.1
Defense17.220.55.713.420.132.55.113.522.437.7
Public order and security32.546.99.526.141.164.313.532.552.477.7
Education78.584.621.950.575.6106.423.858.985.9121.1
Health44.854.211.426.643.462.312.731.050.371.1
Social insurance and social security159.1171.042.087.6133.6186.746.198.4149.2201.3
Housing and public utilities6.022.03.912.219.730.53.99.015.424.5
Culture, sports and information space12.217.53.17.512.318.14.010.615.922.8
Fuel and energy complex, and subsoil use0.00.00.01.43.35.50.62.35.26.3
Agriculture, water industry, forestry, and fishery6.911.42.69.915.123.21.210.318.227.7
Industry and construction2.97.21.12.02.94.80.10.72.24.5
Transportation and communications12.933.34.414.927.244.23.312.328.549.6
Other expenditure19.128.13.924.134.558.010.322.031.246.6
Debt servicing19.435.44.818.721.637.75.119.024.539.0
Net lending18.017.20.58.016.221.42.610.317.318.4
landing21.025.72.613.323.034.15.215.623.331.7
Repayments−3.0−8.5−2.1−5.3−6.8−12.7−2.6−4.8−6.0−13.3
(In percent of GDP)
Expenditure and net lending22.722.519.422.220.023.018.321.019.921.2
Expenditure21.821.819.321.619.422.317.920.319.320.7
General Government services1.41.11.51.31.21.61.11.11.11.2
Defense0.90.80.90.90.81.00.70.80.81.0
Public order and security1.61.81.5l.81.72.01.81.91.92.1
Education3.95.33.43.53.03.33.13.53.13.2
Health2.22.11.31.81.71.91.61.9l.81.9
Social insurance and social security7.96.66.56.05.45.76.05.95.45.4
Housing and public utilities0.30.80.60.80.80.90.50.50.60.7
Culture, spoils and information space0.60.70.50.50.50.60.50.60.60.6
Fuel and energy complex, and subsoil use0.00.00.00.10.10.20.10.10.20.2
Agriculture, water industry, forestry, and fishery0.30.40.40.70.60.70.20.60.70.7
Industry and construction0.10.30.20.10.10.l0.00.00.10.1
Transportation and communications0.61.30.71.01.11.40.40.71.01.3
Other expenditure0.31.10.61.71.41.81.31.31.11.2
Debt servicing1.01.40.81.30.91.20.71.10.91.0
Net lending0.90.70.10.60.70.70.30.60.60.5
Lending1.01.00.40.90.91.00.70.90.80.8
Repayments−0.1−0.3−0.3−0.4−0.3−0.4−0.3−0.3−0.2−0.4
(In percent of total)
Expenditure and net lending100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0
Expenditure96.197.199.697.596.797.198.296.996.997.7
General Government services6.36.07.96.06.26.86.05.45.55.7
Defense3.83.54.54.14.04.43.63.94.14.7
Public order and security7.18.07.68.18.38.69.69.39.69.8
Education17.114.517.615.715.214.316.916.815.715.3
Health9.89.39.18.38.78.49.08.89.29.0
Social insurance and social security34.729.333.727.226.925.032.728.127.225.4
Housing and public utilities1.33.83.13.84.04.12.82.62.83.1
Culture, sports and information space2.73.02.52.32.52.42.83.02.92.9
Fuel and energy complex, and subsoil use0.00.00.00.40.70.70.50.71.00.9
Agriculture, water industry, forestry, and fishery1.52.02.13.13.03.10.92.93.33.5
Industry and construction0.61.20.90.60.60.60.10.20.40.6
Transportation and communications2.85.73.54.65.55.92.43.55.26.2
Other expenditure4.24.83.27.56.97.87.36.35.75.9
Debt servicing4.26.13.95.84.45.03.65.44.54.9
Net lending3.92.90.42.53.32.91.83.13.12.3
Lending4.64.42.14.14.64.63.74.44.24.0
Repayments−0.7−1.5−1.7−1.6−1.4−1.7−1.9−1.4−1.1−1.7
Memorandum items:
Nominal GDP (in billions of tenge)2,016.52.599.9643.81,453.02.485.53,250.6771.61,671.62.753.93,747.2
Source: Data provided by kazakstani authorities.

Cumulative since the end of the previous year.

Source: Data provided by kazakstani authorities.

Cumulative since the end of the previous year.

Table 25.Kazakhstan: Balance of Payments, 1998–2002
19981999200020012002
Prelim.
(In millions of U.S. dollars)
Current Account−1190−9880−880−472
Trade balance−801478262015162540
Exports (f.o.b.)58716123946S912410186
Oil and gas condensate 1/16502174442944635157
Non-oil exports42203948503946615029
Imports (f.o.b.)−6672−5645−6848−7607−7646
Services and income balance−511−644−1989−2628−3126
Services, net−250−171−872−1518−2147
Income, net−261−472−1117−1110−979
of which: income to direct investors−97−274−934−1033−916
Current transfers122157249232113
Capital and Financial Account182590381122491232
Capital transfers, net−9−234−291−197−107
Foreign direct investment, net13241583127830062138
Amortization of intra-company liabilities−81−212−1411−1792−1514
Portfolio investment, net62−46−55−1323−927
of which: National Fund 2/−1270−327
Public sector Eurobonds, net−473411−103−449
Other investment
Medium- and long-term loans and credits, net696192243641786
Short-term and other capital, net−247−592−364122−657
Errors and omissions−1078−641−1106−939−132
Overall Balance−443254585431628
Financing443−254−585−431−628
Net international reserves of the NBK (increase -)443−254−585−431−628
Memorandum Items
Current account (in percent of annual GDP)−5.4−0.14.8−4.0−1.9
Exports in percent of GDP26.636.151.841.241.7
of which: oil exports7.512.824.220.221.1
Imports in percent of GDP30.233.337.434.431.3
Annual growth rate (in percent)
exports−14.94.354.6−3.611.6
non-oil exports−19.3−6.427.6−7.57.9
imports−7.0−15.421.311.10.5
Exports of crude oil and gas condensate, million tons20.423.727.732.439.3
NBK gross international reserves (in millions of U.S. dollars)19642003209625083136
in months of imports of goods and non-factor services3.03.62.82.93.3
National Fund (incl. interest), end of period stock 3/12701917
External debt in percent of GDP44.871.069.068.471.2
excluding intra-company loans29.534.631.229.529.1
Public external debt service in percent of exports of gnfs7.711.88.54.87.7
World oil price (U.S. dollars per barrel)13.118.028.224.324.9
Sources: The Kazakh authorities and the Fund staff estimates.

Includes a staff estimate for underinvoicing of oil exports to CIS countries.

Data reflect the effect of market valuation in addtion to transactions. The start-up assets in 2001 included $660 million from the sale of 5 percent government share in TCO. The remaining balance was from oil revenue. For 2002, inflows included a transfer from government accounts held abroad.

Includes transitory domestic currency deposits.

Sources: The Kazakh authorities and the Fund staff estimates.

Includes a staff estimate for underinvoicing of oil exports to CIS countries.

Data reflect the effect of market valuation in addtion to transactions. The start-up assets in 2001 included $660 million from the sale of 5 percent government share in TCO. The remaining balance was from oil revenue. For 2002, inflows included a transfer from government accounts held abroad.

Includes transitory domestic currency deposits.

Table 26.Kazakhstan: Export Volumes, Prices and Values, 1998–2002(Volumes in thousands of tons)
19981999200020012002
VolumePrice 1/Value

(In millions of U.S. dollars)
VolumePrice 1/Value

(In millions of U.S. dollars)
VolumePrice 1/Value

(In millions of U.S. dollars)
VolumePrice 1/Value

(In millions of U.S. dollars)
VolumePrice 1/Value

(In millions of U.S. dollars)
Customs exports
Crude oil end gas condensate20,289.179.71,617.925,205.191.62,309.327,713.4153.34,249.032,400.6131.74,268.139,273.5128.35,036.9
Coal23,294.313.7319.316,843.39.3155.925,157.16.5164.527,244.28.2222.524,270.27.6183.3
Petroleum products965.449.647.9911.563.457.8991.5101.2100.31,457.888.7129.31,111.6107.2119.2
Alumina1,094.5143.3156.81,162.1116.3135.21,205.5133.6161.01,249.8149.4186.71,371.1126.1172.9
Refined copper316.51,562.4494.5355.11,185.8527.6391.21,701.9665.8399.21,525.6609.0392.51,467.0575.8
Unrefined zinc214.9828.3178.0211.2792.6167.4212.1846.8179.6235.8668.8157.7262.6594.4156.1
Unrefined lead84.4476.340.2111.3440.349.0144.1414.359.7131.2416.954.7135.7404.654.9
Chromium arcs and concentrates398.835.114.0517.936.118.7557.438.621.5503.545.522.9483.347.022.7
Iron ores and concentrates6,448.024.4157.43,460.611.038.26,140.29.759.67,384.711.584.89,780.612.2119.1
Ferrollays564.6389.1219.7774.0291.1225.3793.9353.9281.0822.6383.1315.1950.6358.5340.8
Rolled ferrous metal2,345.6217.0509.02,920.4205.6600.53,261.7234.3764.23,176.0181.7577.23,554.1201.4718.9
Yellow phosphorus4.71.411.16.69.71,061.910.312.7911.311.619.1816.315.631.3907.328.4
Grain2,896.7100.8292.13,814.981.5311.05,612.488.4496.23,309.0103.3341.94,354.680.5350.5
Cotton fiber50.81,045.353.158.3795.946.490.2945.785.395.5886.984.7139.0752.5104.6
Wool8.4642.95.417.2424.47.310.6450.34.69.0544.44.97.9607.64.8
Natural gas (In millions of cubic meters)2,305.79.822.64,251.75.925.05,213.77.237.55,538.514.379.110,437.320.6215.3
Others1,199.61,186.71,470.81,492.71,507.9
Total custom exports5,334.15,871.68,812.28,646.99,709.1
Operations not included in customs statistics12.68.8191.4311.6320.4
Shuttle exports422.3387.5464.5277.6334.2
Total exports5,768.96,267.99,468.19,236.210,363.7
Source: Kazakhstan authorities, and staff estimates.

U.S. dollars per ton except for natutal gas which is in U.S. dollars per thousand cubic meters.

Source: Kazakhstan authorities, and staff estimates.

U.S. dollars per ton except for natutal gas which is in U.S. dollars per thousand cubic meters.

Table 27.Kazakhstan: Import Volumes, Prices and Values, 1998–2002.
19981999200020012002
VolumePrice 1/Value

(In millions of U.S. dollars)
VolumePrice 1/Value

(In millions of U.S. dollers)
VolumePrice 1/Value

(In millions of U.S. dollers)
VolumePrice 1/Value

(In millions of U.S. dollars)
VolumePrice 1/Value

(in millions of U.S. dollars)
Customs imports
Crude oil and gas condensate (in thousands of tons)2,260.6152.1343.8528.216.18.51,009.679.279.92,336.999.4232.22,631.187.6230.6
Petroleum products (in thousands of tons)843.8195.3164.8627.893.458.61,151.7216.7249.61,298.4227.4295.31,060.0176.9187.5
Electricity (in millions of kilowatt-hours)4,087.798.6403.03,325.767.1223.22,842.014.039.73,434.812.241.92,542.811.529.3
Natural gas (in millions of cubic meters)3,056.0112.9345.02,930.1105.9310.34,218.923.3119.64,279.534.5147.78,178.329.4240.1
Coal (in thousnds of tons)1,240.930.037.21,078.918.620.1662.818.312.1203.723.14.7199.026.15.2
Rolled ferrous metals (in thousands of tons)41.424.41.044.317.10.850.6521.726.472.8357.126.078.1443.034.6
Electrical equipment and mechanical tools1,199.9969.31,402.41,811.2
Foodstuffs241.6282.22,355324.5
Nun food consumer goods356.0410.8427.6467.8
Vehicle434.0629.9969.1619.9793.3
Others823.1769.51,477.62,391.6
Total customs impoils4,349.63,683.15,040.06,362.86,490.5
Operations mil included in customs statistics and coverage adjustments97.8175.8139.4
Shuttle imports2,574.12,106.22,197.61,503.11,613.2
Other corrections−350.0−320.1−528.7
Grants
Unbalanced barter114.884.1−14.313.8−0.4
Freight−464.8−404.2−514.4
Total imports6,671.55,645.06,848.37607.37,646.4
Sources: Kazakhstan authorities, and staff estimates.

U.S. dollars per 100 except for natural gas which is in U.S. dollars per thousand cubic meters and electricity which is in U.S. dollars per thousand kilowatt-hours.

Sources: Kazakhstan authorities, and staff estimates.

U.S. dollars per 100 except for natural gas which is in U.S. dollars per thousand cubic meters and electricity which is in U.S. dollars per thousand kilowatt-hours.

Table 28.Kazakhstan: Geographical Distribution of Exports of Energy Products to the Baltics, Russia and Other States of the Former Soviet Union, 1998–2002
19981999200020012002
(In thousands of metric tons)
Oil and gas condensate10,258.17,751.67,943.59,076.98,828.8
Azerbaijan36.00.02.9
Belarus115.20.00.0
Kyrgyz Republic0.00.00.04.0
Lithuania0.0671.417.6
Russia7,167.45,385.56,178.05346.46349.1
Ukraine2,909.11,661.51,737.93730.52475.7
Estonia30.433.27.1
(In millions of cubic meters)
Natural gas2,305.73,776.24,934.34,784.69,378.6
Azerbaijan1,910.8
Armenia50.6
Georgia30.0127.4271.710.073.1
Kyrgyz Republic22.4
Moldova35.0
Russia2,275.73,648.84,662.64,774.67,167.1
Ukraine80.3
Uzbekistan39.3
(In thousands of metric tons)
Gasoline24.339.859.291.1102.4
Kyrgyz Republic19.736.335.065.985.2
Russia0.00.019.8
Tajikistan4.62.04.424.215.9
Uzbekistan0.01.50.01.01.3
Diesel fuel55.850.819.9189.248.9
Kyrgyz Republic38.841.119.730.243.0
Russia17.08.60.2158.7
Tajikistan1.10.24.6
Uzbekistan0.11.3
Heavy furnace fuel137.390.246.4153.88.4
Kyrgyz Republic42.232.70.011.28.4
Lithuania56.920.4
Russia83.80.625.0126.5
Tajikistan3.3
Ukraine11.31.012.8
Coking coal262.02.591.4937.8227.2
Russia262.02.591.4935.7215.5
Uzbekistan0.00.00.00.8
Ukraine0.00.00.02.110.9
Source: Kazakhstan authorities.
Source: Kazakhstan authorities.
Table 29.Kazakhstan: Geographical Distribution of Exports, 1998–2002(In percent of total)
19981999200020012002
BRO Countries42.229.527.731.233.3
Armenia0.00.10.00.00.0
Azerbaijan0.50.50.50.80.8
Belarus0.40.20.20.10.4
Estonia2.32.00.10.10.1
Georgia0.10.10.10.00.1
Kyrgyz Republic1.11.00.71.00.9
Latvia0.30.40.80.60.5
Lithuania0.21.60.20.10.1
Moldova0.00.00.00.00.1
Russia29.619.519.920.225.1
Tajikistan0.80.70.60.70.3
Turkmenistan0.20.20.10.20.6
Ukraine4.52.22.95.73.1
Uzbekistan2.21.11.51.71.2
Non-BRO Countries57.870.572.368.866.7
Austria0.10.00.00.00.3
Afghanistan0.10.20.70.20.2
Belgium0.40.60.10.00.3
China7.28.07.67.68.2
Czech Republic0.70.10.10.00.4
Finland1.60.70.80.60.7
Greece0.00.00.00.00.3
Germany4.96.06.35.94.8
Hungary0.10.10.00.10.3
Italy9.37.310.411.27.0
Japan0.90.40.10.21.1
Netherlands5.02.82.61.71.3
Oman0.00.00.00.00.0
Poland0.81.60.61.92.4
South Korea0.70.60.40.51.0
Switzerland5.95.65.14.75.2
Sweden0.10.40.40.10.4
Thailand0.10.90.20.00.1
Turkey1.70.60.70.91.6
United Kingdom8.83.22.63.42.4
United States1.31.42.41.83.6
Yugoslavia0.00.00.00.00.0
Other countries8.029.931.228.025.1
Source: Kazakhstan authorities.
Source: Kazakhstan authorities.
Table 30.Kazakhstan: Geographical Distribution of Imports, 1998–2002(In percent of total)
19981999200020012002
BRO Countries48.444.254.652.146.9
Armenia0.00.00.00.00.0
Azerbaijan0.20.10.20.20.2
Belarus1.41.00.80.70.8
Estonia0.10.00.00.00.1
Georgia0.10.00.10.10.1
Kyrgyz Republic1.20.90.60.50.5
Latvia0.30.10.10.10.2
Lithuania0.40.20.20.10.1
Moldova0.10.10.10.10.1
Russia39.637.048.445.439.1
Tajikistan0.10.10.10.00.0
Turkmenistan0.60.50.91.21.1
Ukraine2.11.61.62.43.3
Uzbekistan2.22.51.41.31.3
Non-BRO Countries51.655.845.447.953.1
Austria0.80.50.40.50.7
Canada0.90.40.50.60.7
China1.32.23.02.74.7
Cuba0.60.50.60.10.3
Czech Republic1.20.70.70.70.8
Finland1.61.21.11.11.1
Germany8.47.76.77.48.7
Hungary1.21.00.50.50.6
India0.80.80.90.80.8
Italy2.02.93.14.23.3
Japan1.63.22.12.22.5
Poland1.11.71.20.91.1
Switzerland1.51.11.11.00.9
Sweden0.40.70.50.60.9
United Kingdom5.16.24.43.93.9
United States6.19.45.55.47.0
Yugoslavia0.00.00.00.00.0
Other countries17.015.513.215.315.1
Source: Kazakhstan authorities.
Source: Kazakhstan authorities.
Table 31.Kazakhstan: Breakdown of Foreign Direct Investment by Country of Origin, 1998–2002(In percent of total)
Country19981999200020012002

9 months
Canada2.40.55.311.73.5
China7.02.73.25.01.9
Germany7.02.73.25.01.9
Iceland0.30.00.00.00.0
Indonesia4.50.02.51.10.0
South Korea2.61.62.11.60.8
Switzerland3.81.30.70.513.2
Turkey7.21.71.11.41.5
United Kingdom7.08.616.914.215.9
United States32.448.936.134.825.9
Others25.832.129.124.735.4
Source: Kazakhstani authorities.
Source: Kazakhstani authorities.
Table 32.Kazakhstan: Breakdown of Foreign Direct Investment by Industry, 1998–2002(In percent of total)
Sector19981999200020012002

9 months
Agriculture, Hunting and Related Services0.30.00.00.10.1
Mining and Quarrying44.275.773.072.753.5
Coal and lignite; extraction of peat0.50.11.00.00.3
Crude petroleum and natural gas; service activities incidental to oil and gas extraction, excluding surveying41.174.172.072.652.7
Mining of uranum, metal and thorium ores2.61.60.00.10.5
Manufacturing, of which8.39.19.07.218.7
Farm products3.74.22.02.01.7
Coke, refined petroleum products and nuclear fuel0.00.91.01.62.0
Chemicals and chemical products0.40.30.00.20.6
Basic metals, fabricated metal products, except machinery and equipment4.01.94.01.313.2
Office, accounting and computing machinery; electrical machinery and apparatus; radio, television and communication equipment and apparatus; medical, precision and optical instruments, watches and clocks0.21.52.01.60.7
Electricity, Gas and Water Supply7.01.21.00.80.5
Construction0.20.10.01.01.1
Wholesale and Retail Trade, Repair of Motor Vehicles, Motorcycles and Personal and Household Goods2.31.32.01.52.6
Hotel and Restauraut1.10.30.00.60.3
Transport, Storage and Communications, of which0.61.13.03.62.6
Land0.20.83.03.01.5
Air0.00.00.00.10.1
Post and telecommunications0.30.20.00.30.1
Financial Intermediation7.12.11.01.10.3
Real estate, Renting and Business Activities28.98.89.011.320.1
Public Administration, Education, Health and Social Work0.10.10.00.20.3
Source: National Bank of Kazakhstan.
Source: National Bank of Kazakhstan.
Table 33.Kazakhstan: Stock of External Debt, 1998–2002(In millions of U.S. dollars)
19981999200020012002
Total external debt9,84512,03412,57014,95017,377
Total public external debt3,9264,0443,9793,8003,501
IMF Credit629454000
Government and government guaranteed debt3,2973,5903,9793,8003,501
Loans to the government2,4302,8963,2843,2622,944
Multilateral Creditors1,2391,4721,5081,5491,568
World Bank9271,1061,1221,1641,175
EBRD2849454136
ADB284307329331328
Islamic Development Bank010111329
Bilateral Creditors641774776713435
Germany (KfW)457917
Korea (EXTM bank)05754
Japan (JEXIM)262262000
JBIC00450379401
Austria54333
Sweden333