Kazakhstan’s Economy Expands 6.4% in 2025
Kazakhstan’s economy grew by 6.4% in January–November 2025, Prime Minister Olzhas Bektenov announced at a Dec. 25 meeting of the Economic Policy Council. Officials discussed measures to sustain growth, curb inflation, and raise household incomes, while reviewing the joint 2026–2028 program of the government and the National Bank to ensure macroeconomic stability, modernize fiscal policy, and reduce administrative barriers for business.
The council assessed global and domestic risks for 2026 amid forecasts of slowing global growth. Officials highlighted efforts to support balanced economic expansion, create productive jobs, increase median wages, and boost import substitution and domestic production through programs such as the Investment Order initiative.
Attention was also given to diversifying Kazakhstan’s economy by gradually shifting from raw material exports to higher-value finished goods. Expanding private investment in infrastructure, strengthening second-tier banks’ role in financing the real sector, and attracting foreign investment to projects with strong multiplier effects were emphasized.
Bektenov identified reducing inflation as a top priority, calling for continued price stabilization across food, non-food goods, and services.
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