Country Context
Kazakhstan | 2023 |
Population, million | 19.8 |
GDP, current $ billion | 259.7 |
GDP per capita, current $ | 13,088.5 |
School Enrollment, primary (% gross) (2020) | 100.9 |
Life Expectancy at Birth, years (2020) | 70.2 |
Since the 2000s, Kazakhstan has seen impressive economic growth driven by the first generation of market-oriented reforms, abundant mineral resources extraction, and strong foreign direct investment (FDI). Sustained economic growth has transformed the country into an upper middle-income economy, commensurately raising living standards and reducing poverty.
Over the last 10 years, however, Kazakhstan's growth has slowed from 10% over 2000-2007 to below 4%, highlighting the vulnerabilities of an economy still dependent on hydrocarbons and with stagnant productivity growth.
Looking ahead, adjusting to the global green transition presents significant challenges for Kazakhstan.
Revitalizing economic growth and productivity will require bolder steps to enable the private sector to thrive and drive economic diversification by reducing the state¡¯s footprint and boosting competition across the economy, complemented with strengthening human capital and policies to support decarbonization.