Reform of the Mining Sector in Kazakhstan

The need to reform Kazakhstan’s mining sector has been very high on the policy agenda. The country has been adversely affected by the downward trend in commodity prices since 2012, with metal prices falling almost 60% over the five years to early 2016. In 2015 and 2016, Kazakhstan real GDP growth slowed to 1.2% and 1%, respectively, the weakest since the 1990s. While 2017 saw growth bounce back to 4%, the recovery still lacks the momentum needed to put Kazakhstan back on the path of rapid convergence with the world’s advanced economies.