Kazakhstan's economy is projected to grow by 6% in 2025, according to a revised forecast from the National Bank, Kazinform reports.
The upward revision is attributed to robust oil production, expansion in the manufacturing sector and other industries, as well as sustained investment activity and reviving domestic demand.
For 2026, the growth rate is expected to moderate to 4–5%, reflecting changes in both global and domestic economic conditions - particularly a weakened pricing environment in commodity and oil markets.
By 2027, the National Bank anticipates GDP growth to return to historical averages, amid tighter fiscal policy and a shift toward more disciplined budgetary practices.
“These projections could be revised if the structural reforms undertaken by the Government and public institutions are successfully implemented,” said National Bank Chairman Timur Suleimenov at a briefing in Astana.
As a reminder, the Monetary Policy Committee of the National Bank has decided to maintain the base interest rate at 16.5%.
CentralasianLIGHT.org
June 5, 2025