Assessment of the impact of production factors on the economic growth rate of Kazakhstan

Purpose To analyze the production factors affecting economic growth and propose effective ways of utilizing them through the study of the structure of Kazakhstan's Gross Domestic Produc (GDP) and the contribution of economic sectors to GDP. Methodology As part of the research, general scientific methods, analysis and synthesis, economic and statistical analysis, comparative assessment methods, a review report of international organizations, scientific publications from a range of domestic and international sources. For economic and statistical analysis and comparative assessment of economic growth indicators in the Republic of Kazakhstan, the National Bureau of Statistics under the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan, the National Bank of the Republic of Kazakhstan, articles in foreign and Kazakhstani scientific journals and other periodical literature were used. Originality / value The study presents scientifically grounded conclusions regarding the current state of Kazakhstan’s economic growth and the effective application of influencing production factors. Findings Despite the measures taken in Kazakhstan to diversify the economy, economic growth remains heavily dependent on fluctuations in global energy prices, and at the moment the country's economic growth is in the phase of intensifying medium - and long-term growth. Therefore, at the moment, it is necessary to diversify the economy, giving priority to the development of new industries and supporting sectors equipped with high technologies in order to increase their contribution to the gross domestic product (GDP). To do this, it is essential to increase the share of R&D expenditures in development projects, focused not on applied and fundamental sciences, but on the development of new materials, products, processes, increase investments in human capital and fixed capital for a knowledge-intensive economy.