Kazakhstan Diversifies Economy Amid Weaker Oil Output
Kazakhstan's government is diversifying its economy by focusing on non-oil industries such as construction, manufacturing, transport, trade, and agriculture to offset weaker hydrocarbon output.
The country has been relying heavily on oil production, but officials argue that strengthening these sectors will not only maintain economic momentum in the short term but also lay the foundation for more diversified and resilient long-term growth.
Sobir Kurbanov, an analyst and policy expert, points out that while value chains exist in agriculture and tourism, they are underdeveloped and lack competitiveness. He emphasizes that stronger institutions, higher productivity, investment in human capital, climate resilience, and regional integration will ultimately determine whether the region can translate today's economic momentum into sustainable long-term growth.
The government has been reviewing progress across key industries and outlining priorities for the remainder of the year. Construction is expected to remain the fastest-growing sector, with infrastructure investment supporting strong performance in certain regions.