ALMATY – The Government has approved and submitted to Parliament Kazakhstan’s socio-economic development forecast and the republican budget for the next three years, announced Prime Minister Olzhas Bektenov at an extended meeting of the AMANAT Party faction on Sept. 4.
Photo credit: primeminister.kz
Under the baseline scenario, Kazakhstan’s economy is projected to achieve an average annual real GDP growth of 5.3% between 2026 and 2028. The nominal GDP is expected to grow from 183.8 trillion tenge (approximately US$340.37 billion) in 2026 to 229.8 trillion tenge (US$425.6 billion) by 2028, reported the Prime Minister’s press service.
The government plans to reduce the budget deficit from 2.5% of GDP in 2026 to 1.7% in 2027 and 0.9% in 2028.
Prime Minister Bektenov stressed that the policy combines economic stimulation with social responsibility
“As a result of the ongoing tax reform, expenditures aimed at supporting economic growth will increase from 10.9% to 16.1%. This will allow us to provide stronger financial and infrastructural support for businesses while fully honoring our social obligations,” Bektenov said.
Investments and global partnerships
Investment attraction remains a key pillar of Kazakhstan’s development strategy. In the past year alone, 45 projects involving foreign capital worth $1.3 billion were launched.
The national investment portfolio currently includes over 1,100 projects totaling approximately $144 billion, with active participation from major international companies.
Energy and infrastructure modernization
Kazakhstan’s energy sector is undergoing significant modernization through the Tariff in Exchange for Investments program, which has attracted more than 600 billion tenge (US$1.1 billion) in two years.
These funds are being used to repair over 12,000 kilometers of utility networks, reducing overall wear and improving service reliability. In transportation, construction and renovation works are underway on 13,000 kilometers of roads.
Regional development and equal opportunities
Reducing regional disparities is a central government objective. Projects are underway to ensure full access to clean drinking water for the population, with 147 billion tenge ($272 million) allocated from the republican budget and an additional 160 billion tenge ($296 million) from the Special State Fund.
This year, the program will cover 17 cities and 463 villages, significantly improving living conditions in rural areas.
Moving toward a sustainable future
Bektenov reaffirmed the government’s commitment to shaping Kazakhstan’s role in the global landscape.
“All activities under the National Development Plan are being systematically implemented and remain under strict government control. Together with Parliament, we will continue working toward achieving our common goal — ensuring Kazakhstan’s long-term stability, prosperity, and sustainable growth,” he said.
