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16 November8th Portoroz Business Conference Kazakhstan: The Emerging “Tiger” Economy of Central Asia R.W. Robertson, Ph.D. Director Graduate School of Business Saint Leo University
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16 November8th Portoroz Business Conference Agenda Kazakhstan: Context Economy of Kazakhstan – Current Status National Economic Strategy for Kazakhstan Issues for Resolution Summary
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16 November8th Portoroz Business Conference Kazakhstan - Center of The Silk Highway
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16 November8th Portoroz Business Conference Kazakhstan: Fast Facts (2005) Area: 2.7 million square hectares Population: 15 million Density: 6 people per hectare GDP: 124 billion USD GDP (per capita p p p): $8,149 USD GDP Growth: 10 % Currency: Tenge
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16 November8th Portoroz Business Conference
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16 November8th Portoroz Business Conference Year 1999 2000 2001 2002 2003 2004 2005 Population 14.9 14.9 14.9 14.9 14.9 14.9 15.1 Unemployment 13.5% 12.8% 10.4% 9.3% 8.8% 8.4% 8.0% Gross National Income 1290 1270 1350 1520 1780 2090 2250 (per Capita) Real GDP Growth (%) 2.7 9.81 3.5 9.8 9.2 8.1 9.5 Oil Production 0.6 0.8 0.9 1.0 1.1 1.2 1.5 (Millions of barrels/day) Total External Debt 24.8 21.8 17.6 14.3 11.7 8.8 6.2 (Government % GDP) Selected Economic Performance of Kazakhstan (1999-2005)
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16 November8th Portoroz Business Conference Kazakhstan in Transition (1993-2005) % GDP Change Kazakhstan and all other Transition Countries
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16 November8th Portoroz Business Conference Major Exports
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16 November8th Portoroz Business Conference Major Imports
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16 November8th Portoroz Business Conference Leading Markets
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16 November8th Portoroz Business Conference Leading Suppliers
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16 November8th Portoroz Business Conference
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16 November8th Portoroz Business Conference Kazakhstan: Structure of Gross Domestic Product (2003)
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16 November8th Portoroz Business Conference Kazakhstan: Structure of Gross Domestic Product (2003)
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16 November8th Portoroz Business Conference New Regulatory Environment Government owned KazMmunaiGaz must be at least half owner in all new oil projects; New rent tax was introduced on oil exports; and Progressive tax introduced to ensure windfall from rising prices is split between the producer and the government.
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16 November8th Portoroz Business Conference National Economic Strategy Integrate into the World Economy (WTO Membership/Organization for Security and Co- Operation in Europe Chairmanship, Modernize and diversify the economy for sustainable economic growth (Cluster Development Initiative), Develop a modern social framework for all citizens.
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16 November8th Portoroz Business Conference Improve education as knowledge is vital for the new economy, Further develop the structure and institutions of democracy, Develop a national security strategy to meet the needs of the country and region, Implement a balanced and responsible foreign policy.
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16 November8th Portoroz Business Conference National Economy Goals GDP growth of 8.5% in each of the next three years; By 2008, the GDP will be double the 2000 levels; GDP per capita will rise by US $5,559 by 2008; Inflation will be held to the 5-7% range during the three year period; and The volume of energy resources will increase.
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16 November8th Portoroz Business Conference Issues for Resolution Corruption, Overheating of the economy, Democratic advancements, Education system quality improvements.
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16 November8th Portoroz Business Conference Opportunities Skills Training, Service Industries, Tourism, Borat- “Cultural learning of America for make benefit glorious nation of Kazakhstan.”
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16 November8th Portoroz Business Conference Summary Impressive GDP growth since the Russian crisis of 1998, driving substantial increases in average prosperity. Increasing dominance of the oil and gas sector with considerable growth potential. Pressure building from exchange rate appreciation. Overheating of domestic real estate prices. Significant government efforts to overcome challenges of a resource-driven economy and diversify the economic base.
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16 November8th Portoroz Business Conference Thank You! Спасибо!
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