IMF on Kazakhstan’s economy

In an exclusive interview to Kazakh TV, Deputy Managing Director of the International Monetary Fund, Tao Zhang said that Kazakhstan’s economy will accelerate on the basis of diversification, modernization and integration. Today, the republic is already following this path. According to Zhang, Kazakhstan and other Central Asian countries must become a part of the global logistics chain in order to achieve sustainable economic development. The countries need to increase their transit potential and the growth of export volumes in world markets. The expert said that thanks to programs of global and regional integration, the economies of the Central Asian region will significantly increase trade turnover and attract investments.


– Kazakhstan in the past pretty much relied on the commodity economies. Now it’s time to move forward with the reforms, promote private sector development which will be the support of stronger growth in other sectors, such as services, agriculture and etc. It’s time to move and we have to move quickly.