90-ies of XX century were marked by the formation of new States that were previously within the unified economy of the USSR. Among them is the Republic of Kazakhstan, which became independent in 1991. Over the years, it has implemented comprehensive economic reforms, significantly differing in tactics from reforms in other countries and transformed into an independent international economic entity with a very dynamic economy.
However, in the early 1990s, "politics was ahead of the economy", and this contributed to the rupture of economic ties, largely artificial, which led in the first years of sovereignty to a negative chain reaction: stopped whole factories, tens of thousands of workers and employees were without means of livelihood.
The quality of the labor potential of the Republic has significantly decreased in the 1990s. This was the result of the collapse of the Soviet Union, which led to complex social and demographic processes: the growth of unemployment, the decline in the overall standard of living of the population, the active departure from the Republic of qualified population of working age.
Restructuring and liberalization of economic life, begun in the late 80-ies of XX century, led to a weakening of the role of the state and laid the Foundation for the break of traditional economic, cooperative relations between the republics of the former USSR and eventually led to the destruction of the single economic complex and the fall of living standards in Kazakhstan.
In this difficult period, the young Republic had to simultaneously solve two interrelated problems: it was necessary not only to overcome the crisis, but also to take steps to build an independent market economic system. To do this, it was necessary to carry out a policy of denationalization, that is, to introduce the institution of private property. The state went on a phased large-scale privatization.
In Kazakhstan, privatization and restructuring of forms of ownership began at the end of 1991 and was quite complex and controversial.
activate investment and production processes in the economy. Since 1998, stable investment growth rates have been achieved, significantly exceeding the GDP growth rates;
Optimization of the Republican state and municipal state enterprises has begun.
The banking system of Kazakhstan, according to the conclusion of both domestic and foreign experts, thanks to the reforms is an effective financial and economic system in the post-Soviet space.
The government of Kazakhstan has created a national Fund to ensure stable socio-economic development, reduce the dependence of the economy on adverse external circumstances.
The state pays special attention to the development of small business, which should become a real source of financial resources for various segments of the population wishing to realize the entrepreneurial potential
The most effective form of attracting capital to Kazakhstan was foreign direct investment, the inflow of which, since 1990, was provided by the creation of enterprises with foreign capital
Analyzing the efforts and achievements of the Republic of Kazakhstan, we can state with confidence: Kazakhstan has chosen an effective and strategically correct way, made serious adjustments to the economic course of the country. Currently, the Republic of Kazakhstan is considered to be a regional leader and seeks to take a worthy place among the 50 countries with the most competitive economy.