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This Selected Issues paper analyzes whether Kazakhstan has made progress in achieving a more equal income distribution, lower poverty, and a higher level of employment. Given the overarching structural challenges for Kazakhstan, the authorities are stepping up efforts to implement various measures. In order to bolster youth employment and address labor market challenges, the authorities have been revamping a college internship program and a job placement program, which will help to make educated youth competitive in the labor market and to reduce labor market mismatches. The results suggest that Kazakhstan’s economic growth has been broadly inclusive; however, there is room for further improvement. Both income inequality and unemployment in Kazakhstan compare favorably to peers. Fiscal policy could be a useful tool to help reduce income inequality. Better targeting of transfers reduces their fiscal cost and tax levels required to finance them, thus achieving distributional objectives in a more efficient manner. An ambitious structural reform agenda is paramount to Kazakhstan becoming a dynamic emerging market economy and ensuring sustainable and inclusive growth.

Inflation (Finance) --- Free trade --- Customs unions --- Free trade areas --- Tariff unions --- Commercial policy --- International economic integration --- Second best, Theory of --- Tariff --- Free trade and protection --- Trade, Free --- Trade liberalization --- International trade --- Finance --- Natural rate of unemployment --- Kazakhstan --- Cazaquistão --- Ha-sa-ssu-tʻan kung ho kuo --- Hasake si tan gong he guo --- Kasachstan --- Kazafusutan --- Ḳazaḥsṭan --- Kazak Respublikasy --- Kazakistan --- Kazakstan --- Qazāqistān --- Qazaqstan --- Qazaqstan Respublikasy --- Qazaqstan Respýblıkasy --- Republic of Kazakhstan --- Republic of Kazakstan --- Respublika Kazakhstan --- Республика Казахстан --- Казахстан --- קזחסטן --- カザフスタン --- Kazakh S.S.R. --- Commerce. --- Kazachstan --- Exports and Imports --- Foreign Exchange --- Inflation --- Labor --- Money and Monetary Policy --- International Lending and Debt Problems --- Empirical Studies of Trade --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Price Level --- Deflation --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- International economics --- Labour --- income economics --- Monetary economics --- Macroeconomics --- Currency --- Foreign exchange --- Trade balance --- External debt --- Dollarization --- Monetary policy --- Prices --- Debts, External --- Balance of trade --- Kazakhstan, Republic of