LYCOS RETRIEVER 
Kazakhstan: Economies
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Covered with steppe and deserts and blessed with immense oil reserves, Kazakhstan is one of the fastest-growing economies in the former Communist bloc. The streets of Almaty are jammed with expensive SUVs, restaurants are packed and boutiques offer fine Italian shoes.
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Kazakhstan has an abundant supply of accessible mineral and fossil fuel resources. Development of petroleum, natural gas, and mineral extraction has attracted most of the over $40 billion in foreign investment in Kazakhstan since 1993 and accounts for some 57% of the nation's industrial output (or approximately 13% of gross domestic product). According to some estimates,[13] Kazakhstan has the second largest uranium, chromium, lead, and zinc reserves, the third largest manganese reserves, the fifth largest copper reserves, and ranks in the top ten for coal, iron, and gold. It is ... an exporter of diamonds and potassium. Perhaps most significant for economic development, Kazakhstan also currently has the 11th largest proven reserves of both oil and natural gas.[14]
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Throughout 2007 Kazakhstan continued its quest to receive recognition by the international community for its political and economic achievements. Though the country had developed one of the strongest economies in the Commonwealth of Independent States, thanks largely to its oil revenues, backsliding on democratization was increasingly evident.
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Multilaterals remain an important information source on Kazakhstan. Although their prominence on economic development has somewhat decreased over the last years as a result of country’s greater reliance on its own financial resources their policy advice and recommendations continue to ring the bell with both the administration and foreign investors.
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