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Multi-dimensional Review of Kazakhstan

Volume 1. Initial Assessment

image of Multi-dimensional Review of Kazakhstan

Kazakhstan’s economy and society have undergone deep transformations since the country declared independence in 1991. Kazakhstan’s growth performance since 2000 has been impressive, averaging almost 8% per annum in real terms and leading to job creation and progress in the well-being of its citizens. Extractive industries play an important role in the dynamism of the economy, but sources of growth beyond natural resource sectors remain underexploited. In the social arena, dimensions of well-being beyond incomes and jobs have not kept pace with economic growth.

Kazakhstan has set itself the goal of becoming one of the 30 most developed countries in the world by 2050. To sustain rapid, inclusive and sustainable growth and social progress, Kazakhstan will need to overcome a number of significant challenges. Natural-resource dependency, the concentration of economic clout and a fragile and underdeveloped financial sector limit diversification and economic dynamism. Widespread corruption still affects multiple state functions, undermines the business environment, meritocracy and entrepreneurial spirit. More generally, the state has limited capacity to fulfil some of its functions, which affects the delivery of public services like health and education, as well as the protection of the environment and the generation of skills.

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Overview: Realising Kazakhstan's development vision

OECD Development Centre

Kazakhstan’s economy and society have undergone deep transformations since the country declared independence in 1991. The country has adopted an ambitious vision for the year 2050 with the overarching goal of joining the group of the 30 most developed countries. This report is the first output of the Multi-dimensional review (MDCR) of Kazakhstan. The goal of the MDCR of Kazakhstan is to support Kazakhstan in achieving its development objectives by identifying the key constraints to development, providing actionable policy recommendations and supporting the implementation of these recommendations. This chapter contextualises the work of the MDCR by discussing the deep determinants of socio-economic development in Kazakhstan in terms of economic growth and well-being. It goes on to summarise the key findings of the remaining chapters. Finally, it discusses the key development constraints identified in the first phase of the MDCR.

English

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