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Kazakhstan - Oil rules : Kazakhstan's policy options in a downturn - Joint Economic Research Program (anglais)

Kazakhstan grew rapidly in the first half of the 2000s and made considerable progress in reducing poverty. In the years preceding the crisis, Kazakhstan maintained a prudent macroeconomic policy stance and avoided procyclicality in fiscal spending. In the aftermath of the global economic crisis of 2009, Kazakhstan adopted a fixed fiscal rule to govern the transfers from the national oil fund to the budget in 2010 and introduced changes to it in 2012...
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