KAZAKHSTAN - POLITICAL AND ECONOMIC DEVELOPMENT SINCE INDEPENDENCE

Abstract

Emergence of Kazakhstan in December 1991 as an independent sovereign state on the world globe, created euphoria in Kazakhstan's leadership. At that juncture, Kazakhstan's socio-economic and political situation was precarious, full of confusion and uncertainty along with a grim future outlook. The political development was at a nascent stage and the economy was in disarray. The constitution was a legacy of the Soviet past. Nevertheless, independent Kazakhstan chalked out well defined objectives encompassing political and economic reforms for its people. In pursuits of ambitious goals, the regime took bold decisions leading to politico-economic reforms. Such moves have streamlined the political process, attracted massive foreign investment and established vibrant economic system. The leadership has also made rational decision to begin diversifying its economy and ensuring that its huge hydrocarbon resources can become a stimulant for social mobility. Though the process of development is gradual and quite painstaking, however, fifteen years period of independence in the modern history of a nation is quite negligible. Even then Kazakhstan has appeared, in terms of economic growth and political stability, as a strong country in the region. It came forth as a role model for rest of Central Asian Republics in the post Soviet era.