FINANCIAL SUPPORT FOR SUSTAINABLE ECONOMIC DEVELOPMENT OF KAZAKHSTAN

This article examines the role of financial support and investment in achieving sustainable economic development in Kazakhstan. The purpose of the article is to identify structural imbalances and factors hindering productivity growth based on a comprehensive analysis of investment processes and financial infrastructure trends in Kazakhstan from 2000 to 2023, and to substantiate strategic investment priorities in agriculture, innovation, and "green" finance to ensure the country's sustainable economic development. Using statistical data and policy documents, a descriptive and comparative analysis of trends over the period 2000–2023 was conducted, revealing a structural imbalance in investment toward the extractive sector. Factor analysis also allowed for the classification of internal and external determinants of productivity. The study identifies key internal and external factors influencing productivity, including financial infrastructure, technological modernization, human capital, and governance quality. Particular attention is given to inefficiencies in agricultural fixed capital investments and the limited participation of commercial banks in long-term lending. The findings reveal that insufficient coordination of investment policy, depreciation of fixed assets, and weak institutional support constrain productivity growth, thereby slowing sustainable development. The paper argues that targeted investment in agriculture, innovation, and green finance, combined with stronger institutional frameworks, can mitigate external shocks, increase productivity, and support balanced economic growth in Kazakhstan.

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