Kazakhstan

Economic indicators

Because of its strong macroeconomic performance and financial health, Kazakhstan became the first former Soviet republic to repay all of its debt to the International Monetary Fund (IMF) in 2000, seven years ahead of schedule. The GDP growth rate was 10.7% in 2006, 8.7% in 2007, with a forecast of 7.8% in 2008. The economy is driven by oil exports which generate 40% of the country's total revenue. The oil sector also attracts huge foreign investments, second after Russia among the CIS (Commonwealth of Independent States). Consumer prices have risen by over 8.6% in 2007, despite efforts by the National Bank of Kazakhstan (the central bank) to combat inflation.

Main sectors of industry

The agriculture sector contributes nearly 7% to the GDP and employs around 20% of the active population. Kazakhstan is the sixth-largest producer of grains (includes wheat, rice and barley) in the world. Livestock raising is also an important activity. Kazakhstan is rich in natural resources: oil & gas, coal, copper, zinc, uranium and silver. Oil production accounts for 30% of the GDP. The building & construction sector is growing strongly. The manufacturing sector is not well developed given the fact that almost all capital and consumer goods are imported into the country. Thus, manufacturing activities are limited to textiles, chemicals & fertilizers, and pharmaceuticals. The services sector is growing and contributes nearly 55% to the GDP.

Source: World Bank - World Development Indicators - last available data.

Sources of economic information

Ministries

Ministry of FinanceMinistry of Economy

Statistical Office

Central Bank

The National Bank of Kazakhstan

Stock Exchange

Online newspapers

Panorama (in Kazakh)

Search Engines

Site.kz
Kazakinfo.com

Political outline

Executive Power

President is also the commander-in-chief of the armed forces. President can initiate constitutional amendments, appoint and dismiss the government, dissolve Parliament and call referenda at his discretion. Prime Minister is the head of the government. Both Prime Minister and his Cabinet are appointed by the President.

Legislative Power

The legislature in Kazakhstan is bicameral. The Parliament consists of: the upper house (Senate) having 39 seats; its members partly elected by the regions and partly appointed by the President to serve six-year terms; and the lower house having 77 seats; its members popularly elected to serve five-year terms. Both the members of the lower house and the government have the right of legislative initiative. Prime Minister cannot dissolve the parliament nor veto its enactment.The people of Kazakhstan have very limited political rights.

Main political parties

Kazakhstan is a one-party dominant state in the sense that only supporters of the President can share power. Opposition parties are allowed, but are widely considered to have no real chance of gaining power. The major political parties in the country are:
- Otan (Fatherland)– nationalist and also the largest political party,
- DCK (Democratic Choice of Kazakhstan) – advocates rule of law, transparency & free-market economy,
- Communist Party of Kazakhstan – advocates communist ideology,
- Agrarian Party of Kazakhstan – draws support from agricultural & industrial workers.

Current political leaders

President: Nursultan A. NAZARBAYEV (since December 1991, re-elected in 1999 and 2005) - Fatherland
Prime Minister: Karim MASIMOV (since January 2007) – appointed directly by the President - Fatherland

Next election dates

Presidential: Year 2012
Upper House: Year 2011
Lower House: September 2009

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