Investor Presentation on Kazakhstan's Economic Reforms
Recent Reforms
Kazakhstan has been implementing a wide range of reforms to enhance the local business environment, incentivise
private sector investment and strengthen institutions.
Monetary policy, banking and financial
market development
Establishment of an independent regulator
(Agency for Regulation and Development of the
Financial Market) to ensure an appropriate level
of protection of the rights and legitimate
interests of consumers of financial services
(2019)
NBK started publishing data on conversions and
transfers of the National Fund on a monthly
basis to ensure greater transparency (2020)
A joint Action Plan for the inclusion of
government securities in international indices
was developed (2020)
NBK coordinated the volumes of purchases and
sales of foreign currency by companies in the
quasi-public sector in order to minimize the
impact on the foreign exchange market (2020)
Implementation of the Delivery versus Payment
system for NBK notes and government bonds to
improve international settlement line between
the Central Securities Depository and
Clearstream (August 2020)
A special collegial body in the NBK - Monetary
Policy Committee - will be created to make
decisions on the base rate to improve the
implementation of monetary policy(starting work
from January 2021)
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Structural reforms
Agency on strategic planning and reforms
established, which reports directly to the
President
State Programme for Industrial and Innovative
Development 2020-2025
Infrastructure development programme Nurly-
Zhol 2020-2025
Kazakhstan Business Roadmap 2025
Comprehensive Privatization Plan (92.8%
complete)
Supporting the SME sector and substituting
imports: implementation of subsidized financing
programme Economy of Simple Things
Other reforms
Public procurement
Updated law on state procurement and ongoing
development of single procurement regulation
for both state agencies and quasi-sovereign
companies
Management of SOES
Improvements of policies and standards on
information disclosure in the light of ongoing
privatization and IPOs in particular
Optimization of structures of National Holdings:
planned consolidation of KazAgro Holding and
Baiterek
Fiscal Policy Reforms
Small enterprises exempt from taxes and tax
audits during 2020-2023
Source: Source: National Bank of Kazakhstan, Ministry of National Economy
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