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Multi-dimensional Review of Kazakhstan

Volume 2. In-depth Analysis and Recommendations

image of Multi-dimensional Review of Kazakhstan

Kazakhstan has embarked upon an ambitious reform agenda to realise its aspiration of becoming one of the top 30 global economies by 2050. The country’s economy and society have undergone deep transformations since independence. To sustain economic progress, overcome recent difficulties, and drive improvements in well-being to realise its aspirations, Kazakhstan will need to address a number of challenges to ensure its economy becomes more productive and diverse, and is sufficiently flexible and resilient in the face of an ever-shifting external environment. This next stage of economic transformation will require continuing reforms. This report discusses policy actions to address four key obstacles to development in Kazakhstan, identified in Volume 1 of this review. It presents in-depth analysis and recommendations to improve the economy’s resilience through diversification, to mobilise financing for development, to transform the role of the state in the economy, including through privatisation, and to improve the effectiveness of environmental regulations.

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Overview: Overcoming constraints to fulfilling Kazakhstan's development vision

OECD Development Centre

Kazakhstan has adopted an ambitious vision for the year 2050, aiming to become one of the top 30 global economies. For that to happen, the country’s impressive economic growth of the first decade of the 21st century will need to find new drivers that allow development to be more robust and resilient. This in turn requires a commitment to structural reforms that have the potential deeply to transform the Kazakhstani economy and society. This report is the second output of the Multi-dimensional Country Review (MDCR) of Kazakhstan. The goal of the MDCR of Kazakhstan is to support the country in achieving its development objectives by identifying the key constraints, providing practicable policy recommendations, and supporting the implementation of these recommendations. This second report analyses in depth four key issues for Kazakhstan’s mid-term development success: diversification, financial sector development, the role of the state in the economy, and the effectiveness of environmental regulation. This chapter examines the increasingly challenging external environment, revisits key conclusions of the first volume in its light, and presents the key findings and recommendations of this report.

English

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