Articles and Proceedings of the scientific conference among University students "Development and future of the science in Kazakhstan in the opinion of youth"
Browsing Articles and Proceedings of the scientific conference among University students "Development and future of the science in Kazakhstan in the opinion of youth" by Author "Yedgenov Baurzhan"
This paper examines the dependence of Kazakhstan’s national budget on the oil and gas industry and the challenges it creates for sustainable economic development. The study analyzes the historical formation of Kazakhstan’s raw material–oriented economy after gaining independence in 1991, highlighting the country’s transition from a planned to a market economy and the dominant role of foreign investment in the extractive sector. Although the oil and gas industry has ensured rapid GDP growth and budget stability, it has also made Kazakhstan highly vulnerable to global price fluctuations. The paper discusses existing government measures such as the establishment of the National Fund and the Industrial-Innovative Development Strategy, while arguing that true diversification requires investment in human capital and education. Drawing parallels with Japan’s post-war economic recovery, the research emphasizes the importance of shifting from resource dependency to a knowledge-based economy. The conclusion presents recommendations for fostering innovation, supporting entrepreneurship, and transforming the national mindset to achieve long-term, independent economic growth.