Shaky structure maintains a growth rush

Kazakhstan has had a good run, but the easy things have been done and the strong economic growth of the past two years has eased. The republic is banging up against a ceiling that will only be breached if there is more reform.

Adekenov: “Things are moving very
fast here and banking reforms that
happened in Kazahkstan five years
ago are just taking off”


TURNING IN THE second best performance of the 12 Commonwealth of Independent states (CIS) countries in 2002, Kazakhstan’s economy is still unbalanced. Although oil and minerals production is still the engine of growth and earns the republic good money, dependence on raw materials is an Achilles heel. The economy may be lopsided but it grew by 9.2% over the first half of 2002.

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