Asian Development Bank and Kazakhstan: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on Kazakhstan as well as concise information on ADB's operations in the country and contact information. High prices for Kazakhstan’s oil and gas exports, ambitious structural changes, foreign investment, and political stability have spurred the economy and improved living standards in the Central Asian country in recent years. The challenge is to ensure that development spreads the benefits more equitably. This will require an increased resilience to external economic shocks, largely by diversifying sources of growth beyond fossil fuels. Expanding manufacturing outside the oil sector, raising productivity in agriculture, and extending the reach of small- and medium-sized enterprises (SMEs) offer potential. One warning light flashes, however: rising inflation and rapid exchange rate appreciation have tracked robust growth, and sound economic management is needed to prevent overheating and encourage the private sector.