Implementation of the Fiscal Policy in the Economy of Kazakhstan in 2015
Kazakhstan, like the other Eurasian countries, has been hit by large external shocks such as low oil prices and slowdown in Russian and Chinese economies. Kazakhstan’s real GDP growth rate reduced from 6% (five-year average) to 1.5% due to reduced domestic demand in 2015. Besides, after the 2009 and 2014 […]
Transition To The Floating Exchange Rate System In Kazakhstan
As a result of low oil prices in the world markets, sanctions against Russia, depreciation of Russian ruble and devaluation in China, Kazakhstan has had to accept the floating exchange rate regime and to start implementation of a new monetary policy since August 20, 2015. Kazakhstan faced a low growth […]
The Asian Infrastructure Investment Bank: Development And Expectations
The first news about the Asian Infrastructure Investment Bank (AIIB) have come up by October 2013. During the meeting held in the course of visit to Indonesia the President of China, Xi Jinping, and the President of Indonesia, Susilo Bambang Yodhoyono, the Chinese president suggested to establish the AIIB in […]
Benefits of the Membership of the World Trade Organization to Kazakhstan
The final meeting of the Working Group, which officially announced the completion of negotiations on Kazakhstan’s accession to The World Trade Organization (WTO) was held on June 22, 2015, in Geneva. Kazakhstan submitted its initial application on January 29, 1996, but it took nearly two decades to finalize accession talks […]
Kyrgyzstan’s Accession to the Eurasian Economic Union: Labor migrants Case
The ceremony of signing documents on Kyrgyzstan’s accession to the Eurasian Economic Union (EAEU) Agreement took place after the EAEU Summit in Moscow on May 8, 2015. Leaders of the EAEU and Kyrgyzstan were in the process of negotiations on accession issue since Presidents of Russia, Belarus and Kazakhstan signed […]
Kazakhstan’s Trade with Central Asian Countries
Kazakhstan entered into the Customs Union with Russia and Belarus on July 1, 2011, and this decision played a crucial role in determining the country’s foreign trade policy. On January 1, 2015, the Customs Union transformed into the Eurasian Economic Union (EAEU) implying a greater importance of economic integration and […]
Southern Gas Corridor: A New Step For The Eu’s Energy Supply
Turkey and Azerbaijan have been trying to implement the Southern Gas Corridor Project as an important project which aims to help the region resources to meet with the world market. By an implementation of this Project, Azerbaijan’s gas (from the Caspian Sea) will have the opportunity to reach Italy, Europe. […]
Observations On Economy And January 2015 Devaluation In Turkmenistan
Turkmenistan economy can be regarded as partly affected by 2008 global financial crisis due to limited degree of integration to international financial markets. An explosion at a pipeline caused a drop in the volumes of gas imported by Russia in 2009 but as Turkmenistan owns considerably high volumes of natural […]
Observations on the Kazakh Economy After February 2014 Devaluation -1
Both developed and developing countries have accepted free market economy and according to free market rules, they have implemented open economic policies during globalisation process. As one of the developing countries, Kazakhstan also adjusted to this process. Kazakhstan is the most successful country that has adjusted her economy to free […]
Economy Comes First
The official visit of Russian President Vladimir Putin to Turkey, which was held on December 1, 2014, has once again demonstrated Russia’s intention to strengthen alliances with countries that do not share EU sanctions policy. It becomes even more important because European leaders are actually thinking about the extension of […]