From stability to turmoil - what's going on in Kazakhstan | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Tuesday
July 01, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
TUESDAY, JULY 01, 2025
From stability to turmoil - what's going on in Kazakhstan

World+Biz

07 January, 2022, 10:15 pm
Last modified: 07 January, 2022, 10:22 pm

Related News

  • Russia's Rosatom to lead consortium to build first nuclear power plant in Kazakhstan: Kazakh agency
  • Kazakhstan votes on whether to build first nuclear plant
  • Putin arrives in Kazakhstan for Russia-China dominated SCO summit
  • Russia, Kazakhstan evacuate over 100,000 people amid worst flooding in decades
  • Hostel fire kills 13 people in Kazakhstan

From stability to turmoil - what's going on in Kazakhstan

Kazakhstan is the top global producer of uranium and this week's unrest prompted an 8% jump in the price of the metal that fuels nuclear power plants.   It is the world's ninth biggest oil exporter, producing some 85.7 million tonnes in 2021, and its 10th largest producer of coal

07 January, 2022, 10:15 pm
Last modified: 07 January, 2022, 10:22 pm
An armoured personnel carrier is seen near the mayor's office during protests triggered by fuel price increase in Almaty, Kazakhstan January 5, 2022. Photo :Reuters
An armoured personnel carrier is seen near the mayor's office during protests triggered by fuel price increase in Almaty, Kazakhstan January 5, 2022. Photo :Reuters

Security forces appeared to have reclaimed the streets of Kazakhstan's main city on Friday, a day after Russian paratroopers arrived to help quash an uprising in which dozens of people have been killed and public buildings torched.

Police patrolled the debris-strewn streets of Almaty after the worst violence that oil-rich Kazakhstan, long viewed as a bastion of stability in volatile Central Asia, has experienced in three decades of independence. 

Here is a snapshot of Kazakhstan, its economy and political system.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Where is Kazakhastan and why does it matter?

Kazakhstan, located between Russia and China and also sharing borders with three other ex-Soviet republics, is the largest economy in Central Asia, with rich hydrocarbon and metal deposits. It has attracted hundreds of billions of dollars in foreign investment since becoming independent in 1991.

Strategically, it links the large and fast-growing markets of China and South Asia with those of Russia and Europe by road, rail, and a port on the Caspian Sea. It has described itself as the buckle in China's huge 'Belt and Road' trade project.

Kazakhstan is the top global producer of uranium and this week's unrest prompted an 8% jump in the price of the metal that fuels nuclear power plants.   It is the world's ninth biggest oil exporter, producing some 85.7 million tonnes in 2021, and its 10th largest producer of coal.

It is also the world's second largest miner of bitcoin after the United States. Bitcoin's "hashrate" - the measure of computing power of machines plugged into its network - dropped by over 10% on Wednesday after Kazakhstan's internet was shut off, according to crypto mining firm BTC.com. 

Why are people angry?

The uprising began as protests in oil-rich western regions against the removal of state price caps on New Year's Day for butane and propane, which are often referred to as 'road fuels for the poor' due to their low cost.

The reform, aimed at easing oil shortages, quickly backfired as prices more than doubled. The protests spread, tapping into a wider sense of discontent over endemic state corruption, income inequality and economic hardships that have all been compounded by the coronavirus pandemic.

Although the richest of the Central Asian republics in per capita income, half of the population in Kazakhstan - the world's ninth largest country by territory - live in rural, often isolated communities with poor access to public services.

While the country's vast natural resources have made a small elite incredibly wealthy, many ordinary Kazakhs feel left behind. About a million people out of a total population of 19 million are estimated to live below the poverty line.

Annual inflation is running at close to 9%, the highest in more than five years, prompting the central bank to hike interest rates to 9.75%.

Who is  in charge? 

Career diplomat Kassym-Jomart Tokayev, 68, was elected president in 2019 on promises to continue the broadly pro-business policies of his long-serving predecessor, Nursultan Nazarbayev. But Nazarbayev, a former Soviet Politburo member who led Kazakhstan for nearly three decades, was widely seen as the real power behind the throne.

Tokayev has used the protests - which have sometimes targeted symbols of the Nazarbayev era including statues - to fire the 81-year-old former president from his post as chief of the powerful Security Council.

Nazarbayev has made no public comments or appearances since the protests erupted and it remains unclear to what extent the uprising will weaken the considerable influence he and his family have continued to wield in politics and business.

Tokayev also sacked Nazarbayev's nephew, Samat Abish, as second-in-command of the security police. Nazarbayev's eldest daughter Dariga, a former speaker of the Senate and still a lawmaker, has been spoken of in the past as a possible future president.

Economic prospects 

Kazakhstan's per capita gross domestic product in 2020 was $9,122, World Bank data show, slightly above that of Turkey and Mexico but below its annual peak of nearly $14,000 in 2013.

Tokayev's government introduced a stimulus package worth 6% of national output to help smaller and medium-sized businesses weather the COVID-19 pandemic.

The World Bank has forecast economic growth of 3.5% in 2021, rising to 3.7% this year and 4.8% in 2023. It has urged Kazakhstan to boost competition and limit the role of large state-owned enterprises in the economy, tackle social inequality and create a more level economic playing field.

Human rights and freedoms 

Western countries and rights groups have long criticised Kazakhstan for its authoritarian political system, its intolerance of dissent, curbs on media freedoms and lack of free and fair elections, though it has also been viewed as less repressive and volatile than its ex-Soviet neighbours.

Amnesty International said this week's protests were a result of the authorities' "widespread repression of basic human rights" and it called for the release of all those arbitrarily detained and for investigations of past state abuses.

"For years, the government has relentlessly persecuted peaceful dissent, leaving the Kazakhstani people in a state of agitation and despair," Marie Struthers, Amnesty's Director for Eastern Europe and Central Asia, said.

Kazakhstan / Kazakhstan protest / Kazakhstan anti-government protest / Kazakhstan's deadliest rebellion

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • File photo of Padma Bridge. File Photo: Rajib Dhar/TBS
    Evidence of irregularities, graft found in Padma Bridge consultant appointments: ACC chief
  • Illustration: Duniya Jahan/TBS Creative
    ACC launches inquiry into 5 more NBR officials over alleged illegal wealth, corruption
  • File photo of Chattogram Port/TBS
    Ctg Port handles record 32.96 lakh containers in FY25, revenue hits Tk75,432 crore

MOST VIEWED

  • Representational image. Photo: UNB
    After 58 yrs, Ctg getting two new govt schools
  • Showkat Ali Chowdhury, the chairman of Eastern Bank Limited (EBL). File photo
    Bank accounts of Eastern Bank chairman, his family frozen
  • A Chevron gas station sign is seen in Del Mar, California, April 25, 2013. Chevron will report earnings on April 26. REUTERS/Mike Blake
    Chevron to resume Jalalabad gas project after Petrobangla clears $237m dues
  • Representational image. Photo Mumit M/TBS
    Tariff renegotiation in power sector a disaster for investors: Chinese Enterprises Association
  • Bangladesh Bank. File Photo: Collected
    Banks to remain open for transactions till 6pm today
  • NBR Office in Dhaka. File Photo: Collected
    NBR officers should captain revenue authority, businesses tell finance adviser

Related News

  • Russia's Rosatom to lead consortium to build first nuclear power plant in Kazakhstan: Kazakh agency
  • Kazakhstan votes on whether to build first nuclear plant
  • Putin arrives in Kazakhstan for Russia-China dominated SCO summit
  • Russia, Kazakhstan evacuate over 100,000 people amid worst flooding in decades
  • Hostel fire kills 13 people in Kazakhstan

Features

Illustration: TBS

Ulan Daspara: Remnants of a fishing village in Dhaka

19h | Panorama
Photo: Collected

Innovative storage accessories you’ll love

2d | Brands
Two competitors in this segment — one a flashy newcomer, the other a hybrid veteran — are going head-to-head: the GAC GS3 Emzoom and the Toyota CH-R. PHOTOS: Nafirul Haq (GAC Emzoom) and Akif Hamid (Toyota CH-R)

GAC Emzoom vs Toyota CH-R: The battle of tech vs trust

2d | Wheels
Women farmers, deeply reliant on access to natural resources for both farming and domestic survival, are among the most affected, caught between ecological collapse and inadequate structural support. Photo: Shaharin Amin Shupty

Hope in the hills: How women farmers in Bandarban are weathering the climate crisis

1d | Panorama

More Videos from TBS

New leadership emerges in anti-discrimination movement

New leadership emerges in anti-discrimination movement

37m | TBS Today
July-August mass uprising: Nahid urges establishment of new settlement

July-August mass uprising: Nahid urges establishment of new settlement

1h | TBS Today
Trump signs executive order lifting sanctions on Syria

Trump signs executive order lifting sanctions on Syria

2h | TBS World
Chief Advisor inaugurates month-long program for July Movement

Chief Advisor inaugurates month-long program for July Movement

3h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net