FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2013
KAZAKHSTAN STOCK EXCHANGE
CAPITAL MARKET DEVELOPMENT
AND ECONOMIC OUTLOOK
Development of the Kazakhstani securities
market is one of the major objectives of the
government of the Republic of Kazakhstan,
which recognizes the importance of
developed capital market and its impact on
overall economic growth of the country and
on ensuring financial stability, improving
financial sector sustainability and encouraging
investment inflows.
As a result of changes in legislation starting
from the January 1, 2013 the Integrated
Securities Registrar was created. The Integrated
Securities Registrar is mainly aimed to minimize
risks of the issuers as well as rights of securities
holders. The Integrated Securities Registrar
allows the regulator to maintain the control
function more effectively.
Currently the idea to unite the existing pension
funds into one integrated pension fund under
the government of the Republic of Kazakhstan
is being discussed. Pension funds consolidation
will reduce operational costs associated with
the registration and storage of pension assets,
administrative expenses and branch network.
Establishment of the Customs Union between
Kazakhstan, Russia and Belarus three years
ago has marked a major change in the path of
regional integration with important implications
for Kazakhstan. The ultimate goal is the creation
of a Eurasian Union preceded by established
in July 2012 Common Economic Space for
the market of 170 million people. Kazakhstan
is also pursuing accession to the World Trade
Organization (WTO) which is planned for 2013.
Economic Performance
2012 was a quite positive year for Kazakhstan
in terms of economic performance. The
GDP growth made up 5.0% in 2012.. The
unemployment rate has decreased to 5.3%.
Net international reserves amounted to US$
27.7 bn. National Fund assets have increased.
The inflation rate made up 6.1% in comparison
with the previous year. Current account surplus
amounts to US$ 7.8 bn.
Kazakhstan is number one in terms of foreign
currency rating among CIS countries standing
close to Thailand, Ireland and South Africa. In
November, 2012 Fitch also increased the ratings
of the Republic of Kazakhstan: the long-term
ratings of obligations in foreign currency from
“BBB-” to “BBB”, those in the national currency
- from “BBB” to “BBB+”, the outlook on the
ratings is “positive”.
Key Information Contacts
Ministry of Finance of the Republic of Kazakhstan www.minfin.kz
National Bank of Kazakhstan www.nationalbank.kz
Committees of the National Bank of the Republic of Kazakhstan for Financial Market and Financial Organizations Regulation and Supervision www.afn.kz
Financial Institutions’ Association of Kazakhstan www.afk.kz/eng/
Central Securities Depository www.csd.kz
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