CHARACTERISTIC FEATURES OF KAZAKHSTAN'S ECONOMIC GROWTH

Abstract

The article analyzes the dynamics of Kazakhstan's economic growth over a ten-year period, which has allowed for the identification of the main drivers and the determination of the barriers affecting its dynamics.

An analysis of the structure of Kazakhstan's GDP was conducted, revealing the predominant share of trade in the services sector and the share of the manufacturing sector in production. However, this sector does not make a significant contribution to the country's GDP due to the structural characteristics of the economy, which is dominated by high-income sectors dependent on resource extraction.

It was found that the country's GDP growth, supported by high oil prices and transfers from the National Fund of Kazakhstan. The predominant share of household expenditures on food in the structure of consumer spending indicates an existing irrational consumption model in society.

As a result, there is a noted direct dependence of Kazakhstan's economy on the export of natural resources and global oil prices, and a characteristic pro-cyclical budget policy for Kazakhstan's economy with a significant share of government spending financed from the National Fund of Kazakhstan.

The presented article employs methods of desk research, statistical analysis, induction and deduction, content analysis of documents and research publications.