On February 5th, President Tokayev dismissed the country’s government by signing a decree on its’ resignation. The move was expected following weeks of discontent expressed by the president.
On an aggregate level, the country has had a successful 2023. Significant reforms were passed and Kazakhstan made substantial diplomatic gains. Economic growth was near 5%, and $13.3 billion in foreign investment was secured in the first six months of 2023. This was achieved despite supply chain disruptions brought on by the Russia-Ukraine war.
However, Smailov’s and his cabinet have failed to reel in inflation and attract additional investments to the country. The Ministry of Finance of Kazakhstan, did not succeed in preparing a new Tax Code of Kazakhstan. The Minister of Emergency Situations is also under fire for its dysfunctional earthquake early warning systems which became known during a recent quake that scared Almaty residents.
While certain ministers are anticipated to retain their positions, others are expected to be replaced. The Presidential Administration, along with Tokayev, have consistently shown their willingness to make bold decisions when required.