Kazakhstan: Forecast and Realities in Economic Development

Kazakhstan's economy, Central Asia's largest, witnessed growth of 4.2 percent year-on-year in the first half of 2017, according to the country's national statistics agency. The bump surprised international institutions like the International Monetary Fund and Asian Development Bank, which commented on the "unexpected economic upswing in the first quarter." A closer look at the numbers, however, suggests that the country may not be as prosperous as it seems....