Is Kazakhstan’s Rising Star Fading?
Is Kazakhstan’s Rising Star Fading?

Author(s): Marlène Laruelle
Subject(s): National Economy, Governance, Economic policy, Government/Political systems, International relations/trade, Political economy, Economic development
Published by: CEPS Centre for European Policy Studies
Keywords: Kazakhstan; foreign policy; international relations; economy; economic development; governance; economic growth;
Summary/Abstract: Kazakhstan’s economic prosperity and active foreign policy have given it increasing regional power status. Kazakhstan has stood out internationally as a mediator in conflicts, chair of international fora and partner to key international actors, but its ‘golden decade’ of economic growth has ended. The country faced a serious economic crisis in 2014, and registered only slightly over 1 per cent GDP growth in 2015 and 2016. Even though growth improved to approximately 3.5 per cent in 2017, due to higher oil prices and production, figures are likely to remain lower than pre-2014. In January 2017, at the initiative of ageing President Nursultan Nazarbayev, parliament approved constitutional reforms to strengthen its role, including the transfer of some presidential functions, in an effort to decentralise power.

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