Kazakhstan

Kazakhstan has a land area equal to that of Western Europe but one of the lowest population densities globally. Strategically, it links the large and fast-growing markets of China and South Asia and those of Russia and Western Europe by road, rail, and a port on the Caspian Sea. The country has transitioned from lower-middle-income to upper-middle-income status in less than two decades. However, the global economic slowdown and internal structural weakness have challenged the sustainability of Kazakhstan’s growth model. The country is facing a sharp decline in economic activity and an increase in unemployment and poverty and the COVID-19 pandemic has further reinforced the urgent need for socioeconomic reforms (World Bank, 2020).