trategy in this crucial area.
economy kazakhstan financial tax
KAZAKHSTAN - ECONOMIC OVERVIEW
perspective of the Kazakhstan economy is closely connected with further integration into international economic relations, utilisation of unique reserves of energy and mineral resources, vast possibilities to export industrial and agricultural products, optimum employment of country's transit potential and also with availability of highly qualified specialists in different spheres.the Soviet period Kazakhstan was an agrarian, raw materials supplier of the former Soviet economy, where the military industry played the major role. The main economic content of 16 years of independence has become transition from the central command planning to a market system. During these years, Kazakhstan has made considerable progress in implementing complex political, economic and social reforms to establish a democratic state with a market economy.the country has not experienced political disturbances during the transition period, it has faced numerous economic, social and environmental challenges . first few years of Kazakhstan s independence were characterized by an economic decline (mostly due to the destabilizing force of disintegration of the Soviet Union): by 1995 real GDP dropped to 61,4% of its 1990 level. This economic deterioration exceeded the losses experienced during the Great Depression of the 1930s.wide-ranging inflation observed in the early 1990s peaked at annual rate of up to 3000% in mid-nineties. 1992, Kazakhstan has actively pursued a program of economic reform designed to establish a free market economy through privatization of state enterprises and deregulation and today is generally considered to be more advanced in this respect than most other countries of the CIS.remains one of the most successful reformers in the CIS, and it has the strongest banking system in Central Asia and CIS.main goals of current structural policy are diversification and the strengthening of the non-oil sector. A number of development agencies and research centers (Development Institutions) have been established and the Government is looking at establishing techno and science parks to support the diversification of higher-value added industries. But there are certain obstacles inherited from the past to quickly achieve this.EU and USA have recognized Kazakhstan (first in CIS) as a country with market economy in 2001 and 2002 respectively. Kazakhstan has become the first country in the CIS to reach investment grade status. In January 2005 the Organization for Economic Cooperation and Development (OECD) has upgraded Kazakhstan s country export risks rating, moving it from the 5th to the 4th group of risks.possessing sizable amounts of oil and gas, coal, uranium is an important energy player in the world. However, having t...
