Genuine saving as macroeconomic indicator of sustainable economic development of Kazakhstan, 2000, Yergali Dosmagambet, RAKURS Center for Economic Analysis. Genuine saving, newly introduced by the World Bank, aims at measuring sustainability of economic development. Despite that real GDP grows up, there has been recently a strong tendency of negative genuine savings in Kazakhstan. It is closely related to the depletion of natural resources, characterized by insufficient investments of the natural rents in renewing the main production assets and human capital and the protection of environment. High cost of natural resources extracting and a difference between world prices and export prices for raw materials show that foreign oil-producing companies withdraw a part of natural rent which is not invested into the economy of Kazakhstan.

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