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Significance
Kazakhstan’s economy has weathered well the turbulences created by the war in Ukraine. A new context for the country’s traditional aspirations to balance and diversify economic relations has emerged.
Impacts
As competition rises for critical raw materials, Kazakhstan will seek to exploit its assets for economic benefit and strategic relevance.
Commitment to fiscal rules may conflict with maintaining social spending if revenue developments are unfavourable.
The expansion of oil production at the Tengiz oilfield in 2024 will enhance the importance of diversifying export routes.
Opportunities will arise from Russia’s eastward reorientation of energy exports.
Keywords:
Kazakhstan,
RUCIS,
Russia,
China,
IMF-World Bank,
economy,
industry,
international relations,
politics,
fiscal,
foreign investment,
foreign trade,
prices,
sanctions,
banking,
corporate,
debt,
gas,
growth,
judicial,
monetary,
natural resources,
oil,
protest,
transport,
war,
Fossil fuels,
Metals & mining
© Oxford Analytica 2023. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2023
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