... development in critical sectors of the economy, inefficient fiscal and monetary policy and limited R&D to an unfavourable investment and business environment and corruption (
Annex 1
).
Artem Dankov:
The Paradoxes of Social and Economic Development in Central Asia
The government of Kazakhstan has been trying to overcome the negative impacts of external factors and internal structural weaknesses by establishing new goals and diversify its economy from hydrocarbon dependency to more innovative sectors. In 2012, the government announced the new Kazakhstan 2050 strategy, which proposes sweeping socio-economic and political reforms to hoist Kazakhstan into the top 30 economies by 2050. The ...
... class – its absolute size is difficult to ascertain, but it
includes
about 30 per cent of the population (from 35 per cent in Kazakhstan to 5 per cent in Tajikistan) – and the small domestic market, the countries of the region are bound to go down the ... ... individual sectors, such as light industry (textiles, clothing and food), non-ferrous metals, construction materials and transport, Central Asian countries are increasingly reaching the objective limits of their growth.
A colossal shadow economy characterises the region. For example,
according to
Minister of Employment and Labour Relations of the Republic of Uzbekistan ...
... Uzbekistan. This development is mirrored in the recent creation of a new
US$ 500 million Kazakhstan-China Eurasian Nurly Fund
and the
Russia-China Investment Fund
, a US$ 225... ... China side take the financial risk if the project is of direct benefit to the host economy. But if the
RMB denominated risk is on the Eurasian side
, and the project... ... fundamental dynamics of international trade and investment. Its underwriting activities in Central Asia and the Caucasus reveal the shadow of China's future external industrial...
