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19 Sep 2018
Kazakhstan: Countercyclical Support
In early 2014, a long-term development strategy—Kazakhstan 2050—was launched to transform the economy into one that is diversified, private sector-driven, and developed. In response to the crisis, the government undertook a range of countercyclical measures, including finance for income-generating activities, increased infrastructure spending, and restructuring of the banking sector. The Nurly Zhol program for infrastructure development approved in April 2015 to support and stabilize economic growth and employment included anti-crisis measures for sectors facing export declines.
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