Kazakhstan's Monetary Policy Amid the Global Financial Crisis

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Kazakhstan's Monetary Policy Amid the Global Financial Crisis

机译：全球金融危机下的哈萨克斯坦货币政策

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The government of Kazakhstan expects economic growth for 2008 to slip from about 10 percent to just 5.3 percent. What are the main factors for the lower forecast? The main factor is the unstable situation in the world financial markets caused by the mortgage crisis in the US and the liquidity squeeze. The crisis affected the ability of Kazakh banks to borrow from external markets, and increased their borrowing cost. From the second half of 2007, the volume of credit decreased and the sectors most dependent on loans (construction, small and medium-sized enterprises, trade) suffered from this. The balance of payments deteriorated as a result of the increase in the current account deficit.

机译：哈萨克斯坦政府预计2008年的经济增长将从约10％下滑至5.3％。降低预测的主要因素是什么？主要因素是美国抵押贷款危机和流动性紧缩造成的世界金融市场不稳定状况。危机影响了哈萨克斯坦银行从外部市场借款的能力，并增加了借款成本。从2007年下半年开始，信贷量下降，最依赖贷款的部门（建筑，中小企业，贸易）遭受了这一损失。由于经常账户赤字的增加，国际收支恶化了。

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《Institutional investor》 |2008年第8期|p.167-170|共4页
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Kazakhstan's Monetary Policy Amid the Global Financial Crisis

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