Kazakhstan has both the largest economy and the smallest population in Central Asia. How has this contributed to the success of the country? Brainstorm your ideas and explain in a 1-2 paragraph response.
Answers
Answer:
By the end of 2000, strong export growth and high inflows of FDI had enhanced Kazakhstan's economy. Its main export products are oil and natural gas. The economy of Kazakhstan differs from other Central Asian countries in that it has a well managed monetary policy and banking system.
Explanation:
Answer:
Kazakhstan's large economy and small population have contributed to the success of the country in several ways. The country has an abundance of natural resources, including oil, gas, coal, uranium, and other mineral deposits.
Since becoming an independent republic in 1991, Kazakhstan has exploited these resources to drive economic growth. This sustained economic growth has transformed the country into an upper-middle-income economy, raising living standards and reducing poverty.
Kazakhstan's government has also worked to improve its business and investment climate since gaining independence in 1991.
The country presents a trade gateway to a market of about 100 million consumers in Caspian Sea countries and 76 million in Central Asia.
With a growing middle class, Kazakhstan provides trade and investment prospects for firms seeking new opportunities in this emerging market.
USAID is promoting the diversification of Kazakhstan's economy outside the oil and gas sector by supporting sectors such as transport and logistics, horticulture, information technology, and tourism.
However, Kazakhstan continues to struggle with economic challenges that have their roots in the Soviet era.
Learn more about Kazakhstan :
https://brainly.in/question/17830041
#SPJ3