Kanat Makhanov – Page 8

December 19, 2018

Russian Oil Industry on the Verge of Decline

According to the Society of Petroleum Engineers, Russia owns the eight largest oil fields in the world possessing around 5% of the global proven reserves of oil and gas condensate (80 billion barrels). Currently, Russia accounts for 14% of the global oil production with 11 million barrels per day, which […]

October 19, 2018

Slow Labor Productivity as Burden for Long-Term Economic Growth of Kazakhstan

According to the latest report by the Ministry of National Economy of Kazakhstan, during January-October of 2018, the real GDP growth of Kazakhstan reached 4.1% [1]. Significant growth rates are present in manufacturing (5.4%), mining (4.6%) and construction (4.1%). The growth rate in agriculture reached 2.5% whereas the service sector […]

October 8, 2018

Economic Implications of Climate Change on Russia

Nowadays it can be easily observed that the ongoing process of climate change has a major influence on Earth’s ecosystem, thereby determining many aspects of human activity. For instance, there is an upward temperature trend all over the world that could hinder the global growth by raising operational costs. In […]

September 30, 2018

The New Spatial Development Strategy of Russia

The Ministry of Economic Development of Russian Federation presented the “Strategy of Spatial Development of the Russian Federation until 2025”, which contains the main policy priorities, rules, measures and tools to be implemented concerning the spatial development of Russia until 2025. The Projected Spatial Development Strategy will contain a list […]

September 23, 2018

The Third Quarter Marks the End of Russia’s Expansionary Cycle

The latest statistics by the Federal State Statistics Service of Russia (Rosstat) [1] reveals a deceleration of the real disposable income[1] (RDI) growth. In August of 2018, the RDI growth turned negative for the first time measured in month-to-month terms showing a 0.9% decrease and in September, it reached negative 1.5%. […]

July 16, 2018

New Economic Policy of Russia during the Fourth Presidential Term of Putin

As it was expected, President of Russia Vladimir Putin issued a new package of the May Decrees that contain 150 tasks to be implemented during 2018-2024 by the federal and local executive authorities starting right after Putin’s inauguration for the fourth presidential term. The document is extremely important since it […]

May 21, 2018

Analyzing the Effects of Free Trade Agreement between EEU and Iran for Kazakhstan

On May 17 of 2018, an interim agreement leading to the formation of a free trade area (FTA) between the Eurasian Economic Union (EEU) and the Islamic Republic of Iran was signed within the framework of the Astana Economic Forum. The agreement was signed by Chairman of the Board of […]

April 30, 2018

Regional Repercussions of the Economic Recession in Russia

Since 2014, the Russian economy has been in recession caused primarily by the drop in oil prices and sanctions imposed by the western countries. In 2017, after two years of the negative growth, Russia’s GDP and industry production in-creased by 1.5% and 1.0%, respectively, while the inflation rate decreased to […]

April 20, 2018

Aviation in Kazakhstan: an Economic View

One of the distinct features of the process of globalization of the world economy is the diminishing role of distance, which is becoming less relevant thanks to ever increasing efficiency and decreasing costs of traveling around the world. Air traffic plays the key role in this process connecting people and […]

February 19, 2018

Economics of Demographics in Central Asia

As of January 2018, the population of the five Central Asian countries, Uzbekistan, Kazakhstan, Tajikistan, Kyrgyzstan and Turkmenistan, reached a landmark figure of 71 million people. Uzbekistan, being the most populated country in the region, has a population of 32.12 million people, followed by Kazakhstan with 18.16 million people, while […]