Economic growth in CA lags 3fold behind demographic growth

ASTANA. KAZINFORM «The population of Central Asia makes about 1% of the global population, and its aggregate economy accounts just for 0.3%,» director of Kazakhstani Institute for Strategic Research under the President of Kazakhstan Yerkin Tukumov said at today’s meeting themed «Central Asia -2023: a vision of future».

«The population of Central Asia makes about 1% of the global population, and its aggregate economy accounts just for 0.3% which means we threefold fall or even more behind our opportunities,» he said. He stressed the need to think about a development strategy.

«Export -raw and materials based model at large is coming to an end, and we understand, it is ineffective. It may bring at least 1-2% to the country’s GDP. It requires pursuing new structural reforms and adapting common models to some integrated Central Asian vision of our development,» he said.

He also outlined strategic uncertainty as threat number one for Central Asia.

Photo: kisi.kz