ASTANA – Kazakhstan’s gross domestic product (GDP) increased by 6.3% in January–July, said Deputy Prime Minister and Minister of National Economy Serik Zhumangarin at an Aug. 13 press briefing.
Photo credit: primeminister.kz
The real sector grew by 8.3%, while services rose by 5.2%, with industry up 6.9% (mining +8.5%, manufacturing +6.1%) and agriculture up 3.7%. Transport and storage led the growth, surging 22.5% amid increased government focus on logistics.
Zhumangarin noted that the government is working toward President Kassym-Jomart Tokayev’s goal of doubling GDP by 2029, with progress supported by investment stimulation, productivity gains, and the expansion of the non-resource sector.
According to prominent expert Gaziz Abishev’s analysis in his Telegram channel on Aug. 12, much of the expansion has been driven by state spending, particularly on construction, which rose by 18.5%. Significant growth was recorded in the Turkistan Region (+34.6%) through school, rail, and road projects; the Aktobe Region (+25.6%) with school and road upgrades; and in the Zhambyl (+13.1%) and East Kazakhstan (+5.9%) regions, where housing, healthcare facilities, and power lines are being built.
Abishev said that while the figures are strong, external risks, such as global oil market dynamics, U.S. trade policies, and other factors, may slow momentum in the coming months. Budget constraints also limit the scope for large-scale fiscal injections.
