Kazakhstan macroeconomics Assignment

Kazakhstan macroeconomics Assignment Words: 3362

Their tribes migrated seasonally to find pastures for their herds of sheep, horses, and goats. Although they had chiefs, the Khakis were rarely united as a single nation under one great leader. Their tribes fell under Mongol rule in the 13th century and they were dominated by Tartar senates until the area was conquered by Russia in the 18th century. The area became part of the Kiering Autonomous Republic formed by the Soviet authorities in 1920, and in 1 925 this entity’s name was changed to the Khaki Autonomous Soviet Socialist Republic (Khaki USSR).

After 1927, the Soviet government began forcing the nomadic Khakis to settle on collective and state farms, and the Soviets continued the czarist policy of encouraging large numbers of Russians and other Slavs to settle in the region. The Republic of Astrakhan’s Stagnant Responsibly) geographical location is located in the center of the continent of Asia, with a coastline only on the landlocked Caspian Sea. Russia forms its entire northern border. The geographical size of Astrakhan is at square kilometers, Astrakhan’s area is about four times that of Texas, making Astrakhan the ninth largest nation in the world.

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Some 47,500 kilometers of the total area is occupied by bodies of water. Astrakhan has common borders with the following countries: China (1 ,533 kilometers), Gyrations (1 ,051 kilometers), Russia (6,846 kilometers), Transmitted (379 limiters), and Elizabethans (2,203 kilometers). Astrakhan’s only coastline runs 1,894 kilometers along the landlocked Caspian Sea. Astrakhan’s topography varies considerably by region. In the east and northeast, about 12 percent of its territory is occupied by parts of the Altar and Titan Shank mountain ranges with elevations of up to 6,995 meters.

More than three- quarters of the country is desert or semi-desert, with elevations less than 500 meters. Along the Caspian Sea, elevations are below sea level. Seven of Astrakhan’s rivers are 1 ,OHO kilometers or more in length: the Chug, MBA, Ill, artsy, Shim, Sir Dairy, and Rural. The Artist and Rural rivers flow partly through Astrakhan and partly through Russia. The Ill River flows from China into Lake Balkans in eastern Astrakhan. The Sir-Dairy flows from eastern Uzbekistan across Astrakhan into the Oral Sea.

Because Astrakhan has no exposure to maritime weather patterns, the entire country has a continental climate featuring cold winters and hot summers. Rainfall, which varies from 100 to 200 millimeters per year, generally is heaviest in the south and in the eastern mountains. In 2006 Astrakhan’s estimated reserves of oil and natural gas were 35 billion barrels and 1. Trillion cubic meters, respectively. Future exploration of offshore fields in the Caspian Sea is expected to significantly raise the oil estimate.

The country is believed to possess about 1 percent of the world’s total reserves of natural gas and petroleum. Also present are significant reserves of chromium, coal, copper, gold, lead, tungsten, and zinc. Substantial amounts Of good agricultural land are present, although Soviet and post-Soviet agricultural practices have greatly reduced the extent of that land. In 2005 some 8. 3 percent of land was rated as arable, a reduction from the 1998 estimate of 1 1. Percent. Less than 0. 1 percent of that land was under permanent crops. About 4. 8 percent is forest and woodland.

The remainder is pastureland, meadows, desert, and mountains. In 2003 irrigated land totaled an estimated 35,560 square kilometers. Astrakhan has three time zones, which are, respectively, five, six, and seven hours ahead of Greenwich Mean Time. The overall fertility rate was 1. 9 births per woman. The infant mortality rate was 28. 3 deaths per 1,000 live births. Life expectancy at birth was 61. 6 years for males and 72. 5 years for females. According to the 1999 census, 53. Percent of inhabitants were Khaki, 30 percent Russian, 3. 7 percent Ukrainian, 2. Percent Zebu, 2. 4 percent German, and 1. 4 percent Guru. In 1991 the Khaki and Russian populations were approximately equal. Between 1989 and 1999, 1. 5 million Russians and 500,000 Germans (more than half the German population) left Astrakhan, causing concern over the loss of technical expertise provided by those groups. These movements have continued in the early sass. The Khaki population is predominantly rural and concentrated in the southern provinces, while the German and Russian populations are mainly urban and encountered in the northern provinces.

The currency of Astrakhan is Astrakhan Tinge. The Tinge has been used as the currency for Astrakhan since it replaced the Russian Ruble on 15 November 1993. The term Tinge means “a set of scales” in the Trick languages. The Tinge is divided into into 100 it’ll (They’ll). The major products are: oil,coal, iron ore, manganese, chromites, lead, zinc, copper, titanium, bauxite, gold, silver, phosphates, sulfur, iron and steel. The main exports of their country were: oil, uranium, ferrous and nonferrous metals, machinery, chemicals, grain, wool, meat and coal.

The ajar exports are: Petroleum oils, crude (60 percent), Refined copper alloys (5 percent), Petroleum oils, refined (5 percent), Freeloaders (4 percent), Radioactive chemical elements and radioactive isotopes (4 percent). The main imports include Petroleum oils, crude (6 percent), Other footwear (5 percent), Men’s suites (4 percent), Women’s suits (3 percent), Medicament’s, packaged (3 percent). Their major trade partners for exports are China( 25 percent), Germany(10 percent), France(9 percent), Italy(7 percent), Russia(6 percent).

While their major trade partners for imports are China(49 percent), Russia( 17 recent), Germany(9 percent), Italy(3 percent), Belabors(2 percent). (Retrieved From: 2000-2014, Person Education publishing) Analysis of the Main Macroeconomic Indicators In 2004 the economic policy pursued in the country resulted in the economic growth and improvement of the people’s well-being. According to the Statistics Agency of the Republic of Astrakhan, the Gross Domestic product (GAP) in Astrakhan increased by 9. 3%.

In 2004, as in the years before, the essential contribution to the economy was made by the industry where the high rates of development were ensured by the stable operations of its institutes sectors. During January-December 2004 the industrial production increased by 10. 1 % compared to the same period of 2003. In addition, the GAP growth was also ensured by strengthening of the domestic demand for goods and services in the consumer market supported by the increase of personal income and growth in the bank consumer lending. The increase of the retail turnover by 10. 9% compared to 2003 is another indicator of the domestic demand growth.

According to the data of the Statistics Agency of the Republic of Astrakhan the inflation rate as of the end of 2004 was 6. 7%. In the recent years the inflation rate has been stably low: within 6-7% as of the end of the year (2001 – 6. 4%; 2002 – 6. 6% and 2003 – 6. 8%). The average annual inflation rate in 2004 was 6. 9% (2003 – 6. 4%). Substantial inflow of the US Dollars to the country in 2004 due to export and increased bank borrowings that completely compensated the high-rate growing expenses of the residents on current operations still remains the most important factor influencing the inflation.

Astrakhan has rebounded well from the economic recession that affected the country in the first half of 2009. During the crisis, GAP growth rate suggested at just 1. 2% and the country plunged into recession from the sharp fall of oil and commodity prices. With an estimated growth rate of 7. 1% the first half of 201 1, this oil-producing country ranks in the top 10 fastest growing countries, according to the International Monetary Fund. Rising commodity prices and the expansion of the oil industry have helped to reeve the economy with continued growth predicted, barring a dramatic decline in oil prices.

However, most non-resource sectors of the economy continue to suffer from low productivity and competitiveness, and the country remains alienable to commodity price fluctuations. An upper-middle-income country, Astrakhan’s per capita GAP was ISIS 11 ,245 in 2011. In the past decade there has been a significant decrease in poverty rates, from 46. 7% in 2001 to 6. 5% in 2010. The gap between urban and rural living standards still remains – the poverty rate is under 5% in urban areas, while it is about 10% in rural locations.

Overall, about 30% of the population receives some sort of social assistance. Education is a high priority for Astrakhan, and in 2009, Astrakhan ranked first on UNESCO “Education for All Development Index” y achieving near-universal levels of primary education, adult literacy, and gender parity. These results have reflected Astrakhan’s efforts of expanding pre-school access and free, compulsory secondary education. For the next 10 years, Astrakhan is embarking on further major reforms across all education levels.

Agriculture accounts for only 5% of GAP, but the sector continues to employ almost one third (28. 3%) of the working population and is critical to addressing poverty and food security, as well as providing an important avenue for diversification of the economy. Air and water pollution are a significant environmental concern in Astrakhan. Environmental monitoring systems are not adequately funded to reflect the current pollution load on the environment. The Government has made progress in environmental management, but significant challenges remain. (Retrieved From: 2004, K.

Classifiable, the President of the Development Bank of Astrakhan SC) Population of Astrakhan for the past 10 years Population: In 2006 Astrakhan’s population was estimated at 1 5,233,244, of which about 52 percent was female. Population density was 5. 9 persons per square kilometer. Some 56 percent of the population lives in urban areas, and he population is heavily concentrated in the northeast and southeast. In the early 20005, economic growth brought sign efficient movement from rural to urban areas. Because the annual growth rate has been negligible in the early sass, population growth is a critical issue for policy makers.

Although in recent years a large number of legal and illegal immigrant workers have come to Astrakhan from Gyrations and Uzbekistan, in 2006 the estimated net migration rate was -3. 33 individuals per 1 ,OHO population. In 2006 some 23 percent of the population was younger than 1 5 years of age, and 8. 2 percent as older than 64. The birthrate was 15. 8 births per 1,000 population, and the death rate was 9. 4 per 1 ,OHO population. Labor Force for the past 10 years of Astrakhan In 2005 the total labor force was estimated at 7. 85 million. Of the estimated 7. 4 million (92 percent) that were employed, some 2. 6 million were classified as self-employed. Between 1 998 and 2005, the unemployment rate dropped from 13. 7 percent to 8 percent. In 2002 the labor force was divided by sectors as follows: 20 percent worked in agriculture, 30 percent worked in industry and construction, and 50 percent worked in the services sector. In 2005 the minimum subsistence wage was CSS$40 per month, and the official minimum wage was ISSUE per month. The average monthly wage in 2005 was IIS$274; urban workers generally earned substantially higher wages than those in rural areas.

In recent years, substantial numbers of illegal Zebu immigrants have joined the workforce. Astrakhan Labor force participation rate: For that indicator, The World Bank provides data for Astrakhan from 1 990 to 201 1 . The average value for Astrakhan during that period was 69. 94 percent with a minimum of 69. 1 percent in 2004 and a maximum of 71. 6 percent in 201 1 . The labor force participation rate is the percent of the population ages 15 and older that is economically active. That includes the employed and the unemployed individuals.

Unemployment Rate of Astrakhan for the past 10 years Astrakhan’s economy continues to expand rapidly, with the average real growth of more than 10 percent over the past three years, and an estimated 9. 1 percent in the first quarter of 2004. Economic growth has been driven by increasing oil production, supported by high oil prices and rising foreign investments. The production of oil and gas condensate reached 51. Million tons in 2003, an increase of 9 percent over the preceding year. Led by the petroleum sector, other key sectors such as services, manufacturing, and construction have also shown significant gains.

Labor market trends has been favorable, with significant gains in employment since 2000. In 2003, the unemployment rate fell from 9. 3 percent to 9. 0 percent. Real wages have grown in line with real GAP. Notwithstanding the reduction in the share of the population living below the poverty line, poverty remains a serious problem, in particular in rural areas and among the elderly. Growth in monetary and credit aggregates remained high in 2003, mainly because foreign exchange purchases by the National Bank of Astrakhan (N.B.) were not fully sterilized.

As a result of ongoing transactions, inflationary pressures have remained subdued and the inflation rate remained below 7 percent over the past three years. The level of Italianization of bank assets and liabilities has continued to decline. Unemployment Rate in Astrakhan remained unchanged at 5. 20 percent in October of 201 3 from 5. 20 percent in September of 2013. Unemployment Rate in Astrakhan is reported by the Agency of Statistics of the Republic of Astrakhan. Unemployment Rate in Astrakhan averaged 6. 26 Percent from 2003 until 2013, reaching an all time high of 9. 70 Percent in March of 2003 and a record low of 4. 0 Percent in December of 201 1. In Astrakhan, the unemployment rate measures the number of people actively looking for a job as a percentage of the labor force. After the national budget ran deficits of 3 to 4 percent of gross domestic product in the late 1 sass, revenues and expenditures were approximately equal in the first years of the 20005 because of increased oil revenue and renounce reform. In 2004 tax cuts and increased expenditures brought a budget shortfall of about US$I . 2 billion. The shortfall in 2005 decreased to US$250 million. The 2006 national budget called for revenues of US$11. 0 billion and expenditures of IIS$1 1. Billion, creating a projected shortfall of CSS$800 million. The approved budget for 2007 calls for expenditures of LOS$14. 9 billion and revenues of IIS$16. 6 billion, a projected surplus of IIS$I . 7 billion. In 2004 Astrakhan reduced its value-added and payroll tax rates, while the corporate tax rate remained the same. (Retrieved From: 014,Astrakhan economy, indicators I Technologically. Com http:// www. Technologically. Com/Astrakhan/) Real GAP (Gross Domestic Product) per capita Expressed in GAP in APP dollars per person. Data are derived by dividing GAP in APP dollars by total population.

These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. The MIFF is not a primary source for purchasing power parity (APP) data. WOO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box AY in the April 2004 World Economic Outlook, Box 1. In the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A. L in the May 2000 World Economic Outlook for a summary of the revised APP-based weights, and Annex IV of the May 1993 World Economic Outlook. See also Anne Marie Gulled and Marianne Schulz-Ghats, Purchasing Power parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: MIFF, December 1 993), up. 106-23. The gross domestic product (GAP) per capita is the national output, divided by the population, expressed in U.

S dollars per person, for the latest year for which data is published. (Retrieved From: MIFF World Economic Outlook Database List http://www. Miff. Org/external/NSA/CSS. Asps? Id=28) Indicators of the Economic Growth According to the World Bank the world economic growth in 2004 was about 4%. The year 2004 has become the year of the most dynamic development of he emerging nations for the last three decades. The countries of the East Asia overcame the crisis of 1997-98. The countries of East Europe and Central Asia almost completed transition from socialism and speeded up the economic growth.

Successful reforms continued in the South Asian countries. The year 2004 was also successful for the countries of Latin America, Middle East and Africa. Despite the fact that the economic recovery was not observed in all the countries, the aggregate world economic growth was rather impressive. The World Bank explains this growth by the long-term trends eased on the improvement of macroeconomic regulation and better internal investment climates in the countries against the background of the cyclic recovery of the global economy.

In this regard the trends of the world economy development have been determined by the dynamics of growth of its four principal centers: the USA, countries of the European zone, Japan and China. According to the MIFF forecasts the increase of the GAP in the ASSAI in 2004 was assessed at the level of 4. 3%, in China – 9% and Japan – up to 3. 4%. In the countries of the European zone the economic recovery continued Hough the economic growth indicators were the lowest ones, among the developed countries, especially in Germany, as these countries still remain dependent on the external demand.

The economic growth in the countries of the European zone is projected at the level of 2. 2%. A sustainable growth of economies is observed in the developing CICS countries. In 2004 the economic growth in the CICS countries varied from 6. 4 to 12. 4%. In 2004 the economic growth in Russia was 6. 8%. In 2004 the following CICS countries surpassed Russia in terms of the economic growth: Astrakhan (9. 3%), Ukraine (12. %). Azerbaijan (10. 2%), Belabors (1 1 Atkinson (10. 6%) and Armenia (10. 1 %).

During the whole period of 2004 the trend towards rising of prices on raw materials that constituted the main items of Kickstand export was observed. The peak of the oil price surge fell on the autumn period when the prices double exceeded the psychological ceiling of USED 50/barrel. The main causes of the world oil price increase were as follows: geopolitical instability in the Middle East; political clashes in Venezuela and Nigeria; the legal proceedings against the Russian oil company “YUKON”; natural loamiest such as “Ivan” hurricane as well as activity of the speculative investors in the commodity markets.

The peak prices in the second half of 2004 was partially caused by reduction of oil and oil product reserves in the USA, which are the world largest oil consumer and importer. Situation in the world oil markets remains extremely unstable and most probably that the high prices will be preserved in the foreseeable future though at the level less than that in October 2004. Because Astrakhan’s economy was closely linked to Russian’s in the centrally planned system of the Soviet Union, the breakup of hat union in 1991 caused a severe economic downturn in the years that followed.

In the sass, the contribution of industry to the gross domestic product (GAP) fell from 31 percent to 21 percent, and GAP fell by 36 percent between 1990 and 1995. By 2002 new oil extraction operations restored the GAP share of industry to about 30 percent, and overall economic indicators rose substantially. The government engaged in widespread prevarication, although many profitable enterprises went to members of the government- connected elite.

The economy has remained poorly diversified; beginning in the early sass, IL has accounted for more than half of Astrakhan’s industrial output, and many other industries are dependent on it. Between 1 994 and 2003, frequent changes of prime minister made government economic policy inconsistent and commitments to economic reform and diversification ineffectual. In the post-Soviet era, the labor-intensive agricultural sector became steadily less productive. The machine-building sector, producing construction equipment, agricultural machinery, and some defense items, has grown, however.

As much as 30 percent of Astrakhan’s GAP is accounted for by the “shadow economy,” particularly in rural areas. A key economic goal IS membership in the World Trade Organization; negotiations were active in late 2006. As oil continues to spur rapid growth, key goals of mid-term economic policy are diversifying the economic base by expanding non-oil manufacturing, raising agricultural productivity, and improving the environment for small and medium-sized enterprises.

Annual Inflation rate of Astrakhan for the past 10 years Broad money supply growth soared to 68. 2 percent in 2004 and has averaged 43. 6 percent in the past five years (Figure 3-3, Growth in Broad Money Supply). This growth rate is well above all benchmarks-??the regression estimate for a country with Astrakhan’s characteristics (30 percent), the LIMIT- IFS average (31 percent), Bulgarian’s rate (20 percent), Roman’s rate (23 percent), and Russian’s rate (39 percent).

Rapid growth in the money supply is a result of the central bank’s exchange rate policy. Monetary authorities have attempted to achieve a balance between containing inflation and preventing real and nominal appreciation of the currency from surging oil export revenues. For example, in early 2004 the authorities let up on foreign exchange purchases and allowed nominal appreciation; however in the Ruth quarter, the authorities stepped up interventions to keep the nominal exchange rate in check to maintain competitiveness.

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