65% of investments in Kazakhstan fall on the oil and gas industry
In Kazakhstan, 65% of capital investments in January-May 2018 fell on oil and gas production, the Energyprom.kz reports. 1.4 trillion tenge was invested in the oil and gas industry. It is 68% more than in the same period last year.
The total volume of investments amounted to 2.1 trillion tenge. In terms of investment volume, the Atyrau region is leading with a big margin. It accounts for 58.7% of the country total, or 1.3 trillion tenge. Growth for the year amounted to 71%. Two of the three giant oil and gas fields of Kazakhstan, Tengiz and Kashagan, are located in Atyrau region.
Kazakhstan's economy is seriously affected by the so-called Dutch disease, which stands for a dependence on the only rapidly growing industry. As the era of oil ends, the future of the country dependent on the export of raw materials is under a big question.
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