Kazakhstan, 2017–2021—Promoting Economic Diversification, Inclusive Development, and Sustainable Growth
Asian Development Bank | August 2017
Abstract
Kazakhstan surged to upper middle-income status in 2006 and has since become a major economic power in Central Asia. However, the decline in hydrocarbon prices in 2014 revealed economic vulnerabilities stemming from the country’s high dependence on commodity export revenues, as well as institutional and governance constraints. Kazakhstan faces three main challenges to achieving diversified, inclusive, and sustainable growth.1 First, economic diversification efforts are hampered by shortcomings in the finance sector and a weak enabling environment for developing the private sector. Second, spatial and social inequalities are exacerbated by limited access to infrastructure and quality services outside the main cities and the need to improve the management and efficiency of public service delivery. Third, the growth model remains unfriendly to the environment and the economy is vulnerable to the impacts of climate change.
Citation
Asian Development Bank. 2017. Kazakhstan, 2017–2021—Promoting Economic Diversification, Inclusive Development, and Sustainable Growth. © Asian Development Bank. http://hdl.handle.net/11540/8842.Keywords
Development Economics
Regional Economic Development
Economic Impact
Asian Development Bank
Development
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Macroeconomic Stabilization
Economies in transition
Economic agreements
Development indicators
ADB
Economic development
Gross domestic product
Employment
Economic forecast
Economic indicators
Growth models
Gross domestic product
Macroeconomics
Economic forecast
Social condition
Economic dependence
Economic assistance
Comparative economics
Regional economics
Economic development projects
Open price system
Price fixing
Price regulation
Consumer price indexes
Financial crisis
Labor economics
Regional economics
Turnover
Economic survey
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