Fragile stability

C3

SENSITIVE RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in December 2024.

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Form of state Presidential Republic
Head of state Kassym-Jomart TOKAYEV (President)
Next elections 2028, Legislative
  • Kazakhstan's vast reserves of oil, gas and minerals, coupled with its position as a key regional transit hub, provide a strong foundation for economic growth and foreign direct investment.
  • Diversification efforts are showing progress, with sectors such as construction, transportation, manufacturing and retail experiencing robust growth supported by domestic demand and credit expansion.
  • Kazakhstan's balanced approach to international relations has helped attract foreign investments in diverse sectors, including pharmaceuticals, automobiles and renewable energy.
  • Despite recent growth in non-oil sectors, the economy remains overly dependent on hydrocarbons, exposing it to vulnerabilities from global energy price fluctuations.
  • Persistent industrial unrest, particularly in the energy sector, and the government’s authoritarian response to dissent, create an uncertain political and business climate that could deter investors.
  • Depreciation of the tenge, coupled with reliance on sovereign fund withdrawals to bridge fiscal deficits, underscores challenges in achieving sustainable fiscal and monetary stability.
(% of total, 2023)
(% of total, annual 2023)
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.