Selection of the Optimal Way of Development for the Oil Dependent Economy of Kazakhstan

Abstract

The report describes the current problems in the country's economy, characteristic of Kazakhstan's economy. This is shown by the high dependence of the country's economy on natural resources and changes in prices for them. In the past, rapid development of natural resources, in particular hydrocarbons, allowed the country to maintain high growth rates. However, because of the expected low oil prices in the foreseeable future and the transition of hydrocarbon production to the stage of the plateau, this driver of growth has dried up. The article also discusses possible ways of finding new drivers of growth.

Hydrogen energy in Kazakhstan: prospects for development and potential

“…Cities in the southern region, such as Kyzylorda and Shymkent, receive approximately 2,936 and 2,892 sunshine hours per year, respectively, making them suitable for meeting the electricity demand in that part of Kazakhstan. By comparison, other countries like Vietnam have an average of 2,200 sunshine hours, China has 2,500, and countries like Germany, the United Kingdom, Norway, and Japan have less than 1,000 sunshine hours per year (Terehovics et al 2017;Minazhova et al 2023;Nurseiit et al 2018). As the largest country in Central Asia, Kazakhstan possesses a vast potential for the development of solar energy.…”