The current state of Kazakhstan financial system: theoretical and practical aspects

Against the backdrop of the global challenges of the current economic situation, the financial system of the Republic of Kazakhstan is becoming an important tool for ensuring the sustainable development of the national economy, acting as a factor in stimulating its growth. This study was undertaken to analyze the state of the national financial system based on theoretical principles that determine its structure and significance in financial development. The financial system of Kazakhstan mainly solves the problem of providing the national economy with financial resources and promoting economic growth. At the same time, an analysis of the state of the financial system, based on theoretical principles regarding its significance and indicators of the country’s financial development, allows us to identify key problems and directions for its further development. In the context of ensuring economic growth, the role of the financial system is considered from the point of view of indicators characterizing the degree of its development. The study identifies structural components of the financial system that correlate with the Financial Development Index provided by the International Monetary Fund (IMF). This approach allows us to assess the current state of Kazakhstan's financial system, identify problems, and identify areas for further improvement. The study's results highlight the need to improve the efficiency of financial institutions, emphasizing the role of market mechanisms in the formation and distribution of the country's financial resources. Kazakhstan's financial system needs further reforms to achieve sustainable economic development.

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