Kazakhstan ranked 42nd in index of economic freedom
Kazakhstan improved its ranking in the Index of Economic Freedom of the U.S. research center The Heritage Foundation outpacing the EAEU counties as well as Poland, Romania, Belgium and Turkey. The rating was based on ten indicators: property rights, anti-corruption, transparency and efficiency of budget spending, free trade, labor market flexibility. Experts say Kazakhstan has benefited from increased transparency and flexibility in the economy over the past decade. However, Kazakhstan is still maintaining its share in the key industrial enterprises, especially in the energy sector. Beneficial reforms have included privatization of financial institutes, implementation of competitive tax rates, and modernization of trade regime. Experts have also outlined a number of measures taken in Kazakhstan critical to further growth.