Despite the government’s optimistic forecasts, Kazakhstan’s economy is showing worrying signs. The clearest indicator is a sharp decline in foreign private investment. Today, the bulk of capital flowing into the country comes from state funds rather than international businesses.
Even the oil sector — once the main magnet for foreign companies — is no longer attracting investment. Analysts point above all to growing pressure from government officials on international investors as the key reason for this retreat.
According to economist and financial expert Murat Temirkhanov, this trend threatens long-term growth and highlights the risks of excessive state dependency in Kazakhstan’s economy. His full commentary is available on the Exclusive Journal YouTube-channel.
