ECONOMY

Larissa SIDOROVA

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Larissa Sidorova, Academic Secretary, Kazakhstan Institute for Strategic Studies under the President of the Republic of Kazakhstan (Almaty, Kazakhstan)

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Introduction

In 2006, the country’s economy continued to develop at a sufficiently rapid pace characteristic of recent years. On the whole, the year’s end results indicate a 10% increase in the economy. The GDP has reached 77.9 billion dollars and amounted to $3,700 per capita. In the World Bank classification, the Republic of Kazakhstan (RK) had a stable place in the group of upper middle income countries. Growth was traditionally recorded in production, investment and household income, with rapid development of construction and the service sector.

On the whole, the past year can be regarded as a period of active efforts to ensure macroeconomic stability, carry out structural reforms, improve the business environment, and create a favorable climate for attracting foreign direct investment to the manufacturing sector.

Key Events

The past year was marked by several significant events in the economy, primarily the formulation of new pivotal tasks. President Nursultan Nazarbaev made public Kazakhstan’s Strategy for Joining the World’s Fifty Most Competitive Countries. In his Address to the Nation, the head of state listed the priorities of socioeconomic development in the context of enhancing the country’s competitiveness. The most important of these are aimed at…………..

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