Revenue Spending and Natural Resource Funds: Thematic Focus on Strategic Investment Funds
|
|
- Aileen Robinson
- 6 years ago
- Views:
Transcription
1 SEVENTH PLENARY MEETING OF THE POLICY DIALOGUE ON NATURAL RESOURCE-BASED DEVELOPMENT SESSION 6C Revenue Spending and Natural Resource Funds: Thematic Focus on Strategic Investment Funds REPUBLIC OF KAZAKHSTAN December 2016
2 International reserves and the National Fund 120 International reserves and National Fund (US$ bn) International reserves National Fund assets Oct 2016 The National Fund is funded from direct taxes paid by petroleum industry companies, other fees paid by the oil industry, revenues from privatization of mining and manufacturing assets and from disposal of agricultural land Investment yield trend (% of assets) 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 2.86% -0.43% 8.69% 7.61% 3.29% 8.67% 9.92% -2.28% 7.31% 3.02% 1.37% 3.33% 3.36% -1.19% -2.44% кв % Source: National Bank 2
3 Efficient investment of the National Fund s assets Revenues from the natural resources Government account in the National Bank of Kazakhstan Stabilization portfolio 28,8% Savings portfolio 71,2% After approval by the President and the Council for National Fund Management u s e Fixed Guaranteed transfer $8 bn.+/- 15% Targeted transfer I n v e s t m e n t s Bonds issuance Foreign securities Republican Budget 1. Samruk-Kazyna 2. National Holding "Baiterek" Non-profitable social large-scale projects profitable projects 3
4 Foreign securities Distribution of the National Fund s assets for July, 2016 Instruments Total, bn. USD Share of assets, % 1 Saving portfolio 46,7 71,15% 1.1 Securities with fixed income 36,9 56,21% 1.2 Stock 8,8 13,40% 1.3 Global allocation 1,0 1,54% 2 Stabilization portfolio 19,0 28,85% 2.1 Cash and money market instruments 8,7 11,21% 2.2 Securities with fixed income 10,3 17,64% 4
5 Guaranteed and targeted transfers from the National Fund National Fund of Kazakhstan should be spend to: 1) in the form of the fixed guaranteed transfer from the National Fund to the republican budget $8 bn.+/- 15% to cover budget expenses 2) in the form of targeted transfers from the National Fund to the republican budget for the implementation of gainless social important large-scale projects, strategically important infrastructure projects: Road Sector Development Modernization of housing and communal infrastructure Social infrastructure Construction of a new airport terminal in Astana Construction of ferry terminal in Kuryk port 5
6 Investment for the implementation of the State program "Nurly Zhol" Development Prospects of Kazakhstan s New Economic Policy in the long-run: transport and logistics infrastructure; industrial infrastructure; tourism infrastructure; strengthening of energy infrastructure; modernization of housing and communal infrastructure; social infrastructure; small and medium business as growth driver. bn. tenge Special-purpose investment report assessment forecast TOTAL: 770,1 769,6 720 Targeted transfers 492,6 503,4 441,6 Bonds issuance 277,5 266,2-6
7 Bonds issuance The National Management Holding Company Baiterek was founded in 2013 Diversification and modernization of national economy can go efficiently through financial development institutions: 1. Housing Construction Savings Bank 2. Kazakhstan Mortgage Company 3. Development Bank of Kazakhstan 4. Entrepreneurship Development Fund 5. Investment Fund of Kazakhstan 6. Kazakhstan Mortgage Guarantee Fund 7. National Agency for Technological Development 8. KazExportGarant Insurance Corporation JSC Sovereign Wealth Fund «Samruk-Kazyna» was founded in 2008 in order to enhance competitiveness and sustainability of national economy and prevent any potential negative impact of changes in the world markets on economic growth of the country. The key purpose is to manage shares (interests) of national development institutions, national companies, and other legal entities it owns to maximize their long-term value and competitiveness in the world markets. Diversification and modernization of national economy can go efficiently through active investments especially in such prioritized sectors as: oil and gas; power energy; metallurgy; chemistry and petrochemicals; and infrastructure. 7
8 Joint Stock Company «Sovereign Wealth Fund «Samruk-Kazyna» S t r u c t u r e C o o p e r a t i o n Government as a sole shareholder Board of directors Management board Government as public authority Ministry Ministry Ministry Agreement between Government and Samruk- Kazyna Bond yield Dividends I n v e s t m e n t p r o c e s s Government Samruk-Kazyna Transfers from the budget Bonds issuance from the National Fund Self implementation high-profit projects low-profit projects Government s finance 8
9 Development programs 1. Privatization Program aims at reduction of the state's presence in the business to 15% of GDP in Complex Plan of Privatization for includes: 65 most big companies of quasi-sector; 173 subsidiaries of Samruk Kazyna ; 49 government organizations (100% state ownership); 367 municipal organizations (100% state ownership); 129 national holdings subsidiary and other judiciary entities. 2. Transformation Program aims to create new value for the Fund s companies. This can be achieved by improving productivity, investing in highly efficient and profitable projects. Transformation axis 1: Value improvement focus within the core business private equity-like owner Transformation axis 2: Portfolio restructuring active investor Transformation axis 3: Governance commercial strategic holding 9
10 New Concept of formation and investment of the National Fund Guaranteed transfer at $8 bn.+/- 15% Guaranteed transfer to finance budget deficit Guaranteed transfer is fixed at KZT bn. in local currency without changes Guaranteed transfer to finance budget deficit and social important large-scale projects Bonds issuance directly to quasi-sector Revenue from natural resources, management and investment yields, privatization of state holding Prohibition of the bonds issuance + receipts from the privatization of national holdings, national companies, subsidiaries of national companies 10
11 THANK YOU FOR YOUR ATTENTION! 11
National Managing Holding Baiterek : key financial operator of the government
National Managing Holding Baiterek : key financial operator of the government September, 2018 STRATEGY AND MISSION 2 Baiterek is the financial arm of the Government with the primary mission to promote
More informationKazakhstan Outlook 2016
Central Asia Think Tank Development Forum Promoting Economic Cooperation for an Integrated Central Asia Kazakhstan Outlook 216 MACROECONOMIC outlook Astana June 216 GDP Growth YoY, % Macroeconomic Environment
More informationMINISTRY OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN INVESTMENT OPPORTUNITIES IN KAZAKHSTAN
MINISTRY OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN INVESTMENT OPPORTUNITIES IN KAZAKHSTAN London, 2014 Strategy Kazakhstan-2050 and Concept of entering top 30 most developed countries Kazakhstan
More informationNatural Resource Funds. Astana. Kazakhstan. Kazakhstan. National Fund of the Republic of Kazakhstan
Astana Kazakhstan Kazakhstan National Fund of the Republic of Kazakhstan Synopsis Market Value National Fund of the Republic of Kazakhstan $68.9 billion Santiago Compliance Index Resource Governance Index
More informationKazakhstan: on the wave of structural reforms. Aset Irgaliyev, PhD First Deputy Chairman Economic Research Institute
Kazakhstan: on the wave of structural reforms Aset Irgaliyev, PhD First Deputy Chairman Economic Research Institute September 2015 New economic reality: transformation of global economy Over the last 12
More informationDevelopment Bank of Kazakhstan JSC
Consolidated Interim Condensed Financial Statements for the six-month period ended Contents Independent Auditors Report on Review of Consolidated Interim Condensed Financial Information Consolidated Interim
More informationJOINT STOCK COMPANY KAZKOMMERTSBANK. Interim Condensed Consolidated Financial Information (Unaudited) For the Three Months ended 31 March 2018
JOINT STOCK COMPANY KAZKOMMERTSBANK Interim Condensed Consolidated Financial Information (Unaudited) For the Three Months ended Table of Contents Page STATEMENT OF MANAGEMENT S RESPONSIBILITIES FOR THE
More informationKazakhstan s economy expanded by 4.2% in 1H17, supported by growth in mining, manufacturing, construction and transportation sectors
Economics Research Desk Market Highlights: Kazakhstan 18 July 2017 Kazakhstan s economy expanded by 4.2% in 1H17, supported by growth in mining, manufacturing, construction and transportation sectors Review
More informationDomestic IPOs: the AIFC
The process of privatisation of state property in Kazakhstan began in the early 1990s after Kazakhstan obtained independence following the break-up of the Soviet Union, where private property was almost
More informationEconomics of Kazakhstan
Executive summary Economics Sustainable GDP and industry growth rates Government measures aimed at real sector support Acceleration of inflation rate to two digit number S&P lowered Kazakhstan s sovereign
More informationEconomy of Kazakhstan
Executive summary Official KZT/USD exchange rate as at 01.03.08 was 120.87 Economy Banking sector The programme of support to the unfinished construction projects in Almaty and Astana was launched Commercial
More informationKazakhstan Financial Review August News on Kazkommertsbank: Kazakh banking sector developments:
Official exchange KZT/US$ rate at 1 September 2009 150.71 Summary The inflation rate in August 2009 was 0.2%, and 4.3% YTD The National Bank decided to change refinancing rate more slowly The FSA introduced
More informationKazakhstan: the "buckle" in One Belt One Road
Kazakhstan: the "buckle" in One Belt One Road Shaimerden Chikanayev (February, 2017) 02.03.2017 1 A Silk Road for Oil & Gas Today, as I stand here and look back at that episode of history, I could almost
More informationKAZAKHSTAN: MARKET WITH POTENTIAL FOR SWISS SME?
KAZAKHSTAN: MARKET WITH POTENTIAL FOR SWISS SME? Michael Kühn, Senior Consultant Russia+CIS Lugano, 3.2.2016 Content 1 - Country Profile 2 - Kazakhstan s Trade Relations: globally and with Switzerland
More informationKAZAKHSTAN STOCK EXCHANGE LISTING RULES
KAZAKHSTAN STOCK EXCHANGE A p p r o v e d by a decision of the Board of Directors of Kazakhstan Stock Exchange (minutes No. 15 dated April 27, 2017) Effective as of June 1, 2017 LISTING RULES Warning Inclusion
More informationMajor government priority for 2008 [inflation control / stability] Government actively supporting investments into wider sectors of the economy
Executive summary Official KZT/USD exchange rate as at 01.02.08г. was 120.22 Economy Banking sector Major government priority for 2008 [inflation control / stability] Government actively supporting investments
More information7 April. International reserves of Kazakhstan increased by 1.7% to US$99.3 bln. in March National Bank
Official exchange KZT/ rate on 1 March 2014 184.08 Summary Economy Banking sector International reserves of Kazakhstan increased by 1.7 to $99.3 bln. in March KKB reported 52.53 bln. Tenge net profit in
More information% CPI and Money supply(%) Jan-17. Jan-16. Jul-15. Jul-16. Apr-16. M3(right scale)
February 217 1 KAZAKHSTAN % 2 1 1 - -1 1. GDP growth contribution by final use (%) 2. GDP Growth Contribution by Sector (%) 24 2 26 27 28 Household Consumption Gross Capital Formation GDP(right scale)
More informationJOINT STOCK COMPANY KAZKOMMERTSBANK. Condensed Interim Consolidated Financial Information (Unaudited) For the six months ended 30 June 2011
JOINT STOCK COMPANY KAZKOMMERTSBANK Condensed Interim Consolidated Financial Information (Unaudited) For the six months 30 June 2011 JOINT STOCK COMPANY KAZKOMMERTSBANK TABLE OF CONTENTS Page STATEMENT
More informationANNUAL REPORT of the National Bank of the Republic of Kazakhstan for the Year 2014
APPROVED by the Presidential Decree of the Republic of Kazakhstan dated May 28, 2015 No.34 ANNUAL REPORT of the National Bank of the Republic of Kazakhstan for the Year 2014 Almaty, 2015 2 Table of Contents
More informationJOINT STOCK COMPANY KAZKOMMERTSBANK. Interim Condensed Consolidated Financial Information For the six months ended 30 June 2015 (unaudited)
JOINT STOCK COMPANY KAZKOMMERTSBANK Interim Condensed Consolidated Financial Information For the six months JOINT STOCK COMPANY KAZKOMMERTSBANK TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT S RESPONSIBILITIES
More informationCountry Operations Business Plan. Kazakhstan September 2018
Country Operations Business Plan September 2018 Kazakhstan 2019 2021 This document is being disclosed to the public in accordance with ADB's Public Communications Policy 2011. CURRENCY EQUIVALENTS (as
More informationAstana Finance JSC. Consolidated Financial Statements for the year ended 31 December 2015
Astana Finance JSC Consolidated Financial Statements for the year ended 31 December 2015 Astana Finance JSC Contents Independent Auditors Report Consolidated Statement of Profit or Loss and Other Comprehensive
More informationANNUAL REPORT of the National Bank of the Republic of Kazakhstan For the Year 2012
APPROVED by the Presidential Edict of the Republic of Kazakhstan dated 2013 No. ANNUAL REPORT of the National Bank of the Republic of Kazakhstan For the Year 2012 Almaty, 2013 2 Table of Contents EXECUTIVE
More informationJOINT STOCK COMPANY KAZKOMMERTSBANK. Condensed Interim Consolidated Financial Information (Unaudited) For the three months ended 31 March 2009
JOINT STOCK COMPANY KAZKOMMERTSBANK Condensed Interim Consolidated Financial Information (Unaudited) For the three months ended JOINT STOCK COMPANY KAZKOMMERTSBANK TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT
More informationRESEARCH & KNOWLEDGE MANAGEMENT. Russia and Central Asia Macroeconomic Outlook 2017
RESEARCH & KNOWLEDGE MANAGEMENT Russia and Central Asia Macroeconomic Outlook 217 4 July 217 Russia and Central Asia Macroeconomic Outlook 217 Contents: 1. Introduction 5 2. Kazakhstan 7 3. Russia 12 4.
More informationAnti-crisis State Policy in Russia
1 Anti-crisis State Policy in Russia Vera Kononova Institute for Complex Strategic Studies 1 December 2016 Seminar Outline 1. Anti-crisis Policy Goals The main goals and targets adopted by the Government
More informationTransformation program for «Sovereign Wealth Fund «Samruk-Kazyna» JSC
Approved by The Board of Directors of JSC "Samrұқ-Kazyna" 113 from September 17, 2014 decision The Board of Directors of JSC "Samrұқ-Kazyna" 122 from September 4, 2015 decision The Board of Directors of
More informationCNY/KZT Trading on KASE
Қазақстан қор биржасы Казахстанская фондовая биржа Kazakhstan Stock Exchange CNY/KZT Trading on KASE September 14, 2017 Almaty, Kazakhstan Kazakhstan China Cooperation 2 History of Cooperation CNY/ KZT
More informationRESEARCH & KNOWLEDGE MANAGEMENT. One Belt & One Road Leveraging infrastructure value potential
RESEARCH & KNOWLEDGE MANAGEMENT One Belt & One Road Leveraging infrastructure value potential SEPTEMBER 2017 CONTENTS 1. Key highlights 3 2. Overview of One Belt & One Road initiative 4 3. Financing 8
More informationUSDKZT volatility hit a two-year low
RESEARCH AND KNOWLEDGE MANAGEMENT 22 November 2017 USDKZT volatility hit a two-year low USDKZT traded in the range of 330-334/USD in the past two weeks with a 30-day historical volatility touching a 2-year
More informationKaztemirtrans, JSC. Update following sovereign action, outlook changed to stable. CREDIT OPINION 3 August Update
CREDIT OPINION Kaztemirtrans, JSC Update following sovereign action, outlook changed to stable Update Summary To determine the rating of KTT, we apply our rating methodology for government-related issuers
More informationNotes to the consolidated interim condensed financial statements for the three months 1 Background (a) (b) (c) Organisation and operations These consolidated interim condensed financial statements include
More informationECONOMICALLY ACTIVE POPULATION 50% SME
Welcome to Astana FROM 1997 201 6 GRP by 187 times In per capita by 64 times INVESTMENTS by 40 times NUMBER of SMEs by 21 times ANNUAL TAX reached 1 trillion RESIDENTIAL PROPERTY by 4 times In 2016 POPULAT
More informationRating Action: Moody's changes outlook to positive on ten Kazakhstani GRIs following outlook change on sovereign
Rating Action: Moody's changes outlook to positive on ten Kazakhstani GRIs following outlook change on sovereign Global Credit Research - 21 Aug 2013 London, 21 August 2013 -- Moody's Investors Service
More informationGeneral Authority for Investment & Free Zones
General Authority for Investment & Free Zones ho re e Who is GAFI Establishment & Role Working under the umbrella of Ministry of Investment & International Cooperation (MOIC), the General Authority for
More informationKazakhstan: Economic & Sector Dynamics 2017
Kazakhstan: Economic & Sector Dynamics 217 April 217 Growth momentum is expected to pick up in 217 driven by higher oil prices and increase oil production GDP Growth vs. Brent Price 217 GDP Growth Forecasts
More informationKazakhstan Stock Exchange - leading trading platform in Central Asia. Almaty September 2016
Kazakhstan Stock Exchange - leading trading platform in Central Asia Almaty September 2016 1 Securities Market Infrastructure Kazakhstan Stock Exchange 50.1% - NBK 49.9% - other Central Depository 55.0%
More informationInterim Appropriation
Interim Appropriation 2008-2009 2nd Session 16th Assembly Legislative Assembly of the Northwest Territories February 2008 Yellowknife, N.W.T. SUMMARY OF INTERIM S 1 Legislative Assembly $ 4,742,000 185,000
More informationJOINT STOCK COMPANY KAZKOMMERTSBANK. Interim Condensed Consolidated Financial Information (Unaudited) For the three months ended 31 March 2016
JOINT STOCK COMPANY KAZKOMMERTSBANK Interim Condensed Consolidated Financial Information (Unaudited) For the three months ended JOINT STOCK COMPANY KAZKOMMERTSBANK TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT
More informationJOINT STOCK COMPANY KAZKOMMERTSBANK. Interim Condensed Consolidated Financial Information (Unaudited) For the three months ended 31 March 2017
JOINT STOCK COMPANY KAZKOMMERTSBANK Interim Condensed Consolidated Financial Information (Unaudited) For the three months ended Table of contents Page STATEMENT OF MANAGEMENT S RESPONSIBILITIES FOR THE
More informationSector Assessment: Finance (Summary) 1
Country Partnership Strategy: Kazakhstan 2012 2016 Sector Assessment: Finance (Summary) 1 Sector Road Map 1. Sector Performance, Problems, and Opportunities 1. Financial sector participants. The financial
More informationCAPITAL MARKET OVERVIEW KAZAKHSTAN GLOPAC, 2018
CAPITAL MARKET OVERVIEW KAZAKHSTAN GLOPAC, 2018 Section 1 Current state NATIONAL BANK OF KAZAKHSTAN The National Bank is the entity that reports to the President of the Republic of Kazakhstan Functions:
More informationKAZAKHSTAN STOCK EXCHANGE
KAZAKHSTAN STOCK EXCHANGE January April 1, 1, 2012 2013 KASE Coeval of Tenge KASE was established on November 17, 1993 under the name of Kazakh Inter-bank Currency Exchange two days after Tenge (the new
More informationSECTOR ASSESSMENT (SUMMARY): TRANSPORT (ROAD TRANSPORT [NONURBAN])
CAREC Corridors 1 and 6 Connector Road (Aktobe Makat) Reconstruction Project (RRP KAZ 48424) SECTOR ASSESSMENT (SUMMARY): TRANSPORT (ROAD TRANSPORT [NONURBAN]) 1. Sector Performance, Problems, and Opportunities
More informationForteBank Joint Stock Company Interim condensed consolidated financial statements
Interim condensed consolidated financial statements 30 June with report on review of interim financial information Interim condensed consolidated financial statements CONTENTS REPORT ON THE REVIEW OF INTERIM
More informationSWFI. Special Report Into Kazakhstan. April questions:
Special Report Into Kazakhstan April 2017 www.swfinstitute.org questions: support@swfinstitute.org This briefing is a joint publication between the Sovereign Wealth Fund Institute (SWFI) and Samruk Kazyna
More informationPROGRAM INFORMATION DOCUMENT (PID)
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Operation Name PROGRAM INFORMATION DOCUMENT (PID) Appraisal STAGE September 25, 2015
More informationDevelopment of Economy and Financial Markets of Kazakhstan
Development of Economy and Financial Markets of Kazakhstan National Bank of Kazakhstan Macroeconomic development GDP, real growth, % 116 112 18 14 1 113,5 11,7 216,7223,8226,5 19,8 19,8 19,3 19,619,7 199,
More informationSaudi Arabia at a Glance
Invest Saudi Table of Contents Saudi Arabia at a Glance Saudi Arabia Economy Why Invest in Saudi? Key Incentives Available for Investors Strategic Sectors & Opportunities Investments We Value the Most
More informationKazakhstan: Countercyclical Support
Validation Report August 2018 Kazakhstan: Countercyclical Support Reference Number: PVR-567 Project Number: 49083-001 Loan Number: 3272 ABBREVIATIONS ADB CPS - - Asian Development Bank country partnership
More informationPresentation by Economy Under Review Brunei Darussalam
2009/SOM1/006anx4 Agenda Item: IV Presentation by Economy Under Review Brunei Darussalam Purpose: Consideration Submitted by: APEC Secretariat First Senior Officials Meeting Plenary Session Singapore 16
More informationJSC Halyk Bank. Consolidated Financial Statements and Independent Auditors Report For the years ended 31 December 2017, 2016 and 2015
Consolidated Financial Statements and Independent Auditors Report For the years ended 2017, 2016 and 2015 Table of contents Page STATEMENT OF MANAGEMENT S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL
More informationBTA Bank JSC and subsidiaries. Unaudited Interim Condensed Consolidated Financial Statements
and subsidiaries Unaudited Interim Condensed Consolidated Financial Statements 30 September 2014 Interim condensed consolidated financial statements CONTENTS Interim condensed consolidated statement of
More informationKAZAKHSTAN STOCK EXCHANGE JSC
KAZAKHSTAN STOCK EXCHANGE JSC A p p r o v e d by decision of Kazakhstan Stock Exchange JSC Management Board (meeting minutes No. 127 of December 22, 2016) Effective as of December 26, 2016 N O T I C E
More informationPresentation to the GDR Holders January 2012
Presentation to the GDR Holders January 2012 Page 1 Disclaimer WHILE JSC BTA BANK (THE "BANK") HAS USED ALL REASONABLE EFFORTS TO ENSURE THAT THE INFORMATION HEREIN CONTAINED IS CORRECT, ACCURATE AND COMPLETE
More informationUNCTAD s Seventh Debt Management Conference. Argentina : A country with limited access to financing in the capital markets. Mr. Norberto Lopez Isnardi
UNCTAD s Seventh Debt Management Conference 9-11 November 2009 Argentina : A country with limited access to financing in the capital markets by Mr. Norberto Lopez Isnardi Director Nacional Ministry of
More informationCountry Operations Business Plan. Kazakhstan September 2017
Country Operations Business Plan September 2017 Kazakhstan 2018 2020 This document is being disclosed to the public in accordance with ADB's Public Communications Policy 2011. CURRENCY EQUIVALENTS (as
More informationDoing Business Guide Kazakhstan
www.pwc.kz Doing Business Guide Kazakhstan 1 October 2012 IMPORTANT NOTICE AND DISCLAIMER THIS PWC KAZAKHSTAN DOING BUSINESS GUIDE (THIS GUIDE ) HAS BEEN PREPARED BY PRICEWATERHOUSECOOPERS TAX & ADVISORY
More informationDoing business in Kazakhstan. An introductory guide to tax and legal issues
Doing business in Kazakhstan An introductory guide to tax and legal issues Contents 1 Welcome to Kazakhstan...........................................2 2 Our top 10 tax and legal tips.......................................6
More informationJOINT STOCK COMPANY KAZKOMMERTSBANK. Interim Condensed Consolidated Financial Information for the nine months ended 30 September 2017 (unaudited)
JOINT STOCK COMPANY KAZKOMMERTSBANK Interim Condensed Consolidated Financial Information for the nine months Table of contents Page STATEMENT OF MANAGEMENT S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL
More informationNational Export & Investment Agency KAZNEX INVEST Ministry of Investment and Development
National Export & Investment Agency KAZNEX INVEST Ministry of Investment and Development Invest in Kazakhstan Basic Facts National Flag National Emblem Area: 2,724,000km 2 (1,051,742 sq.miles),9 th largest
More informationEconomy of Kazakhstan
Economy Economy of Kazakhstan Economic fundamentals in the country remain strong Second tier banks implement the Government programme plan GDP growth was 5.3 per cent in the 1Q08 Volumes of industrial
More information1 Message from Chairman of the Board of Directors
Annual report 2011 from the Chairman of Annual report 2011 1 Message from Chairman of the Board of Directors Dear Shareholders, Partners and Clients! The year 2011 was a jubilee year for our country and
More informationInvest in Kazakhstan
Invest in Kazakhstan 1 Investment attractiveness of Kazakhstan Why Kazakhstan Investors are attracted to Kazakhstan for a variety of reasons Ease of Doing Business According to the 2016 World Bank report
More informationŞekerbank T.A.Ş. Investor Presentation. IFRS 9 Consolidated Accounts as of
Şekerbank T.A.Ş. Investor Presentation IFRS 9 Consolidated Accounts as of 30.06.2018 Table of content 1. Focus on Şekerbank 2 2. Balance Sheet 8 3. Income Statement 15 8 4. 14 Asset Quality, Liquidity
More informationNOTE ON CANCELLED OPERATION REPORT (IBRD-86190) ON A LOAN IN THE AMOUNT OF US$ USD MILLION TO THE FOR A
Public Disclosure Authorized Document of The World Bank Report No: NCO00004218 Public Disclosure Authorized NOTE ON CANCELLED OPERATION REPORT (IBRD-86190) ON A LOAN IN THE AMOUNT OF US$ USD 977.86 MILLION
More informationAIFC GREEN FINANCE CENTRE
Workshop on Supporting Asia-Pacific LLDCs and Bhutan in Mobilizing Resources for the SDGs Development of green financing in Central Asia AIFC GREEN FINANCE CENTRE Aigul Kussaliyeva Thimphu, Bhutan December
More informationRegional Financial Integration and Financial Regulatory Cooperation The Importance of Asia s Bond Markets Lotte Schou-Zibell, ADB
Regional Financial Integration and Financial Regulatory Cooperation The Importance of Asia s Bond Markets Lotte Schou-Zibell, ADB Workshop: The Global Financial Crisis and the Reform of the Financial Regulatory
More informationREGULATORY AND SUPERVISORY FRAMEWORK DEVELOPMENT
REGULATORY AND SUPERVISORY FRAMEWORK DEVELOPMENT AND MAIN CHALLENGES FOR ISLAMIC FINANCE IN KAZAKHSTAN AAOIFI WORLD BANK 12 TH ANNUAL CONFERENCE, MANAMA BAHRAIN, 5-6 NOVEMBER 2017 Alibek Nurbekov Head
More informationEntrepreneurship Development Agency
Entrepreneurship Development Agency Marjanishvili str. 5/16-18, 0102 Tbilisi Tel: +995 32 2 99 10 44 Web: www.qartuli.ge; www.enterprise.gov.ge Mail: info@enterprise.gov.ge Growing Economy Georgia Snapshot
More informationLeading Kazakh Oil Producer. September 2011
JSC KazMunaiGas Exploration Production Leading Kazakh Oil Producer September 2011 1 Important Notice Forward-looking statements This document includes statements that are, or may be deemed to be, forward-looking
More informationKazpost JSC Consolidated Financial Statements for the year ended 31 December 2014
Consolidated Financial Statements for the year ended 31 December Contents Independent Auditors Report... Consolidated Statement of Financial Position... 1-2 Consolidated Statement of Profit or Loss and
More informationIran at a Glance. Rls. 455, billion. Rls. 477,683 billion
Iran at a Glance The main economic indices in Iran - 2007 Based on the initial estimates, Iranian economy has attained an appropriate growth in 2007, comparing to the preceding year. Gross Domestic Product
More informationBTA Bank JSC and subsidiaries Consolidated Financial Statements
and subsidiaries Consolidated Financial Statements For the year ended 31 December 2012 together with Independent Auditors report 2012 Consolidated Financial Statements CONTENTS Consolidated statement of
More information5 JUNE HILTON PRAGUE HOTEL, PRAGUE
5 JUNE HILTON PRAGUE HOTEL, PRAGUE SPONSOR IN ASSOCIATION WITH COCKTAIL SPONSOR One Day to Rule Them All Welcome to TXF Global: Project Finance To kick off TXF Global, our dedicated project finance day
More informationPress Release Recent Economic Developments and Highlights of Fiscal Years 1436/1437 (2015) & 1437/1438 (2016)
Kingdom of Saudi Arabia Ministry of Finance Press Release Recent Economic Developments and Highlights of Fiscal Years 1436/1437 (2015) & 1437/1438 (2016) 28 December 2015 The Ministry of Finance is pleased
More informationJOINT STOCK COMPANY KAZKOMMERTSBANK. Consolidated Financial Statements For the Years Ended 31 December 2013, 2012 and 2011
JOINT STOCK COMPANY KAZKOMMERTSBANK Consolidated Financial Statements For the Years Ended 2013, 2012 and 2011 JOINT STOCK COMPANY KAZKOMMERTSBANK TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT S RESPONSIBILITIES
More informationFinancial Results Presentation. 30 June 2011
Financial Results Presentation 30 June 2011 Content Nurbank at a glance Financial Overview Financial Highlights Client Structure and International Partners Funding Base Shareholders Structure, Key Executives,
More informationCHINESE ECONOMIC DEVELOPMENT ZONES
CHINESE ECONOMIC DEVELOPMENT ZONES Joint Research INSTITUTE OF LATIN AMERICA, CHINESE ACADEMY OF SOCIAL SCIENCES ---- UNIVERSITY OF COSTA RICA 2012-8 Content Establishment and Evolution Classification
More informationSession 2: Operational Aspects of Fiscal Policy in Resource-Rich Countries (21 March at 11.30am)
MANAGEMENT OF NATURAL RESOURCES IN SUB-SAHARAN AFRICA KINSHASA CONFERENCE, 21-22 MARCH 2012 Session 2: Operational Aspects of Fiscal Policy in Resource-Rich Countries (21 March at 11.30am) Fiscal policy
More informationRATIO ANALYSIS OF CONSTRUCTION INDUSTRY OF KAZAKHSTAN
JSC Rating agency of the Regional financial center of Almaty office 904, floor 9 136, Dostyk avenue, 050051 Almaty, Republic of Kazakhstan RATIO ANALYSIS OF CONSTRUCTION INDUSTRY OF KAZAKHSTAN Analyst:
More informationTHE BANKING SECTOR OF THE REPUBLIC OF KAZAKHSTAN
JSC Rating agency of the Regional financial center of Almaty office 904, floor 9 136, Dostyk avenue, 050051 Almaty, Republic of Kazakhstan THE BANKING SECTOR OF THE REPUBLIC OF KAZAKHSTAN Analytical department
More informationDoing Business in the Saudi Arabian Market
Doing Business in the Saudi Arabian Market Office for Economic and Commercial Affairs P.O. BOX 5108, Jeddah 21 422 Tel: +966 12 66 90 824 E-Mail: ecocom-jeddah@mfa.gr Saudi-Arabian Economy Exports Oil
More informationStandard Bank. Budget Presentation. Vetumbuavi Mungunda Naufiku Hamunime. March 2017
Standard Bank Budget Presentation March 217 Vetumbuavi Mungunda Naufiku Hamunime Construction Slowdown Reduced Government Spending MACROECONOMIC OVERVIEW ECONOMIC GROWTH Real GDP Growth (%) GDP by sector
More informationJournal of Internet Banking and Commerce
Journal of Internet Banking and Commerce An open access Internet journal (http://www.icommercecentral.com) Journal of Internet Banking and Commerce, July 2016, vol. 21, no. S4 Special Issue: Government
More information1. INTRODUCTION AND LEGAL FRAMEWORK 1.1 Please describe the importance of the project finance industry in your jurisdiction.
Kazakhstan GRATA Law Firm Shaimerden Chikanayev 1. INTRODUCTION AND LEGAL FRAMEWORK 1.1 Please describe the importance of the project finance industry in your jurisdiction. Project finance in the strict
More informationKazakhstan: On the Crest of the Oil Wave. Public Disclosure Authorized. Public Disclosure Authorized. Public Disclosure Authorized
Kazakhstan: On the Crest of the Oil Wave Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Kazakhstan Economic Update Spring 2013 Kazakhstan:
More informationThe Black Sea Trade and Development Bank. BSTDB: Financing Economic Development of the Black Sea Region
The Black Sea Trade and Development Bank BSTDB: Financing Economic Development of the Black Sea Region Ankara, March 7, 2011 BSTDB At A Glance Location Thessaloniki, Greece First Operation November 1999
More informationDoing business in Kazakhstan 2013 Reach, relevance and reliability
Doing business in Kazakhstan 2013 Reach, relevance and reliability The information given in this document is of a general nature and should be treated as such. Please consult with an expert before taking
More informationCenter for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan
Center for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan 2018 CONTENT Azerbaijan Economy at a Glance (GDP growth) Macroeconomic and financial stability restored Translating
More informationDr. Cihan Aktas Deputy Executive Director Banking and Financial Institutions Department Central Bank of the Republic of Turkey
Dr. Cihan Aktas Deputy Executive Director Banking and Financial Institutions Department Central Bank of the Republic of Turkey Session III: Supporting Oman Real Economy and Entrepreneurships Oman Second
More informationShinhan Bank Kazakhstan JSC. Financial Statements for the year ended 31 December 2015
Financial Statements for the year ended 31 December Contents Independent Auditors Report Statement of Profit or Loss and Other Comprehensive Income... 5 Statement of Financial Position... 6 Statements
More informationNC KMG Operational and financial results 2Q and 1H 2017
NC KMG Operational and financial results 2Q and 1H 2017 Disclaimer Forward-looking statements This document includes statements that are, or may be deemed to be, forward-looking statements. These forward-looking
More informationDiversifying Africa s Largest Economy PAPER PRESENTED BY DR.OKECHUKWU E.ENELAMAH HONOURABLE MINISTER OF INDUSTRY, TRADE & INVESTMENT
Diversifying Africa s Largest Economy PAPER PRESENTED BY DR.OKECHUKWU E.ENELAMAH HONOURABLE MINISTER OF INDUSTRY, TRADE & INVESTMENT AT 4 TH WTO CHINA ACCESSION ROUNDTABLE. PROTOCOL I will like to thank
More informationHALYK GROUP FINANCIAL RESULTS PRESENTATION 1H & 2Q 2017 (Moody s Ba1 / Fitch BB / S&P BB)
HALYK GROUP FINANCIAL RESULTS PRESENTATION 1H & 2Q 2017 (Moody s Ba1 / Fitch BB / S&P BB) 22 August, 2017 1 Disclaimer Certain information contained in this presentation may include forward-looking statements.
More informationPresentation. Global Financial Crisis: Impact on Kazakhstan, Lessons from the Past, Current Challenges
High-level Regional Policy Dialogue on "Asia-Pacific economies after the global financial crisis: Lessons learnt, challenges for building resilience, and issues for global reform" 6-8 September 2011, Manila,
More informationDEMOGRAPHICS AND MACROECONOMICS
1 KAZAKHSTAN DEMOGRAPHICS AND MACROECONOMICS Nominal GDP (EUR bn) 15 936 GDP per capita (USD) 8 535 Population (000s) 15 521 Labour force (000s) 8 415 Employment rate 93.4 Population over 65 (%) 7.7 Dependency
More informationKazakhstan Number of participant banks in mandatory collective insurance system for
Current status of banking sector as of April 1, 2009 1 As of April 1, 2009, there are 37 tier two banks operational in Kazakhstan, of which number 35 banks, 34 branches and 376 cashier settlement desks
More informationECONOMIC MONITOR GEORGIA Issue 8 [updated] June 2018
ECONOMIC MONITOR GEORGIA Issue 8 [updated] June 218 Overview High economic growth of 5.% in 217 and 5.5% in Jan-Apr 218 Demand side: balanced growth based on consumption, investment and net exports Positive
More information