Kazakhstan represents the largest overall economy in Central Asia. In the 1990s Even, against a background of mass poverty and the collapse of the previous Soviet republics, Kazakhstan remained outstanding in the post-Soviet space by the living standards of its people, its political calm and operating corporations. At the beginning of the 2000s, a functional system of governmental capitalism with elements of socialism was established in Kazakhstan.
The authorities didn’t leave the country to starvation. The reforms of 1995-97 and the well-structured monetary-credit policy revived and strengthened the overall economy. In the period of the recession in 2008-09, through the implemented anti-crisis measures of governance by the National Bank and the Agency of Financial Oversight, Kazakhstan were able to avoid the results of the decline of the world economy.
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Kazakhstan occupied the primary positions among the CIS countries after the recession of 2008. In 2008-10, Kazakhstan was included on the list of the very best 3 fastest-growing economies of the world. Pursuant to the Global Competitiveness Report 2012-2013, launched by the World Economic Forum, Kazakhstan took 16th place among 144 countries in the rankings of macroeconomic stability.
Following the deceleration in 2014-15, there has been an economic recovery over the past three years. The GDP of the country increased by 4.1% in 2018, viewing the establishment of a solid private sector. Kazakh banks commenced allocating investments in other post-Soviet countries. The united states is the owner of extremely large oil items, metals, as well as nutrients. The Republic ranks12th in the world in oil supply and 19th in conditions of natural gas.
Kazakh international oil and gas companies are situated in the city of Atyrau, where it is prepared to start new oil refining businesses. In conditions of gold materials, Kazakhstan is in the primary position in the global world ranking of gold-mining countries. This factor alone already makes the united states worth the close attention of foreign investors.
Macroeconomic stability, and the prevention of imbalance accumulation, as well as a legal security warranty, make the country attractive for Foreign Direct Investments (FDIs). Kazakhstan rates 28th among 190 countries in 2019 for Investment Attractiveness of the Doing Business ranking. 300 billion have been brought into the country within the last 20 years. 26 billion. China is investing in various areas in Kazakhstan: oil and gas, chemicals, the mining and metallurgical industry, power anatomist, agro-industrial engineering and sector. 27 billion, opening 6,000 workplaces.