Towards economic security through diversification: case of Kazakhstan
In this article assumption is being made that economic structure of economy affects economic security of a country. The main exported goods of Kazakhstan for the period 2000-2015 is the commodity group “Mineral products”, which accounts for no less than 65.8% of total exports of Kazakhstan. And in Kazakhstan’s economy is currently experiencing a clear decline due to the instability and decline in world oil prices. One solution to the government of Kazakhstan has chosen the conduct of the national currency devaluation in February 2014 and August 2015. Down conjuncture of oil prices since 2014 has ceased to be favorable, and in Kazakhstan, only 5% of the oil sold in the domestic market and almost all the oil produced in Kazakhstan is exported at a rate of 95%. In the presented paper authors consider the problem of diversification of the Kazakhstani economy, which actually depends on raw industry. The analysis of the current situation and recommendations for further reforming of economy are provided.
economic security, Kazakhstan, economy, oil and gas sector, diversification, prices for energy resources
Journal of Security and Sustainability Issues
ISSN 2029-7017 (print)
ISSN 2029-7025 (online)
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