Investor Presentation on Kazakhstan's Economic Reforms
COVID-19 Response Measures
The government's supportive measures to limit the impact of the crisis showcase the effectiveness of decision-making as
well as demonstrate the resilience of the economy.
Government has been swift and effective in responding to the crisis
March 13th
First cases of COVID-19 identified
in Kazakhstan.
All public events suspended.
March 23rd
KZT4.4tn (US$10bn) anti-crisis
package announced, excluding
tax reliefs and local support
measures.
April 29th
June 15th
March 11th
WHO characterizes
COVID-19 as a pandemic
March 16th-31st
State of emergency declared. Kazakhstan went into strict lockdown,
closing the borders and suspending domestic travel.
Up to 70% of public and private sector employees were transferred to
remote work, with the exception of life support enterprises, security,
law and order, and mass media.
Schools and universities switched to online learning.
First social cash payments in the
amount of KZT 42,500 (c. US$100) per
person assigned to 4.3mn citizens, in
connection with the loss of income
during the lockdown.
April 20th
Three infection hospitals
were built in the three
largest cities.
May 11th - 25th
Additional grace period on
principal amount and interest at
least for 90 days for SMEs
affected by the pandemic
situation from Jun 16 till Sep 15
2020.
End of the state of emergency on 11
May and gradual lifting of lockdown
measures across the country,
including re-opening of public
transportation, shops, restaurants etc.
July 5th
August 17th - 31st
Gradual lifting of lockdown
measures, including re-
opening of public places on
working days.
The second lockdown introduced
across the whole country after spike in
daily cases of COVID.
Lockdown measures are less severe
than the ones during March-May.
The Spread of the Virus has been Contained
(COVID-19 daily cases)
12,000
10,000
8,000
6,000
4,000
2,000
0
13-Mar
13-Apr
13-May 13-Jun
13-Jul
13-Aug
13-Sep
13-Oct
Source: WHO, Public Sources, Government of Kazakhstan
3
The Government is Well Positioned to Contain The Crisis
Kazakhstan entered the crisis in a strong position, with low government debt
reflecting its strong track record of fiscal prudence and good macroeconomic
fundamentals. It has more fiscal space and is better positioned to withstand the
global shocks than most of its peers
°
The government and NBK have taken proactive and well-targeted measures
to mitigate the impact of the shocks on the local economy. Measures
announced in April include a KZT 5.9tn fiscal package and programmes of
preferential lending to SMEs, excluding temporary prudential regulation relief
to support business lending, easing banks' capital and liquidity, postponement
of loan repayments for SMEs and general public and households
During the second revision the government redrafted its 2020 Budget by
increasing oil price assumption from $20/barrel to $40/barrel. For the medium
term (2021-2025), a more conservative oil price at $ 35 per barrel was taken.View entire presentation