GlobalSource Partners | Country Insights

According to the Bureau of Economic Statistics, Kazakhstan’s economic growth slowed this year, with GDP rising 4.1% y-o-y in 1H26 and the short-term indicator of monthly economic activity up 4.8% y-o-y in 9M26 — both weaker than in 2025. However, given that economic statistics are neither fully a...

Bi-Weekly Economic News Summary

KAZAKHSTAN · In Brief · 22 Oct 2026

Oct 8 Finance Ministry: Kazakhstan has earned an Index Watch Positive status after JPMorgan’s 2026 review of its index classification, potentially paving the way for the country’s sovereign bonds to be included in the GBI‑EM index. National nuclear company: The shareholders of Kazatomprom approve...

Tax revenues behind the overly ambitious plan as economic growth moderated

KAZAKHSTAN · In Brief · 16 Oct 2026

Recently released economic and budget execution data show that growth remains steady, though slower than in 2025. The Bureau of National Statistics reports that the short-term indicator - a monthly measure of activity across industry, agriculture, construction, transportation, trade, and communic...

Kazakhstan macro: Retail sales growth looks steady in 9M26 despite puzzling statistics

KAZAKHSTAN · Report · 14 Oct 2026

Recent publications from the Bureau of National Statistics indicated that in 1H26 GDP grew by 4.1% y-o-y, both on the production side and by end-use. According to official reports, total consumption rose y-o-y by 2.1% in 1H26, with household consumption up 2.0%, suggesting slightly faster growth ...

Bi-Weekly Economic News Summary

KAZAKHSTAN · In Brief · 07 Oct 2026

Sep 24 Kazakhstan Stock Exchange: Kazakhstan held a global call with investors as part of the preparation for a new 5Y sovereign Eurobond issue. EBRD: The bank has kept its forecast for Kazakhstan’s GDP growth in 2026 unchanged at 4.7%. Halyk bank: The bank intends to issue discount bonds worth K...

Bi-Weekly Economic News Summary

KAZAKHSTAN · In Brief · 23 Sep 2026

Sep 11 Ministry of Justice: Enforcement proceedings to recover KZT 2.3 trillion from the operator of the Kashagan field (North Caspian Operating Company) will resume once the court returns the materials. Energy Ministry: Kazakhstan and the US will continue dialogue within the framework of the str...

Kazakhstan macro: the widening current account surplus to keep the tenge strong this year

KAZAKHSTAN · Report · 21 Sep 2026 · 1 response

With oil prices hovering around $100/bbl and future trends still uncertain, oil-producing countries have enjoyed extra revenues despite various disruptions to exports. Kazakhstan is one such country, with reduced oil production due to export issues via the CPC, its main oil export route. Still, w...

Kazakhstan macro: Budget statistics confirm economic growth remains stable

KAZAKHSTAN · Report · 18 Sep 2026

Recent economic data shows that Kazakhstan’s growth rate has steadied at around 5.0%, easing on a y-o-y basis, partly due to a base effect after an unusual growth surge in 2025 that lasted until August last year. In the first eight months of 2025, the short-term indicator, tracking the activity i...

Economic growth looks stable in August as domestic demand remains strong

KAZAKHSTAN · In Brief · 14 Sep 2026

The Bureau of National Statistics has begun releasing monthly economic data for August, showing that growth is gradually picking up. Retail trade rose by 4.5% y-o-y in 8M26, with August alone posting a 6.3% increase. In 7M26 and 1H26, growth stood at 4.1% and 3.8% respectively, marking a steady a...

Bi-Weekly Economic News Summary

KAZAKHSTAN · In Brief · 09 Sep 2026

Aug 27 Legal suite: The court in Kazakhstan allowed Ukrainian Naftogaz to appeal the cancellation of the decision to recover $1.4 bln from Gazprom. Aug 28 KMG: The company will place "Dimsum" bonds worth CNY 3.5 bln in early September. Energy ministry: Oil production has been restored in Kazakhst...

The government 2027-2029 economic outlook and budget plan suggests steady GDP growth in the years ahead

KAZAKHSTAN · In Brief · 01 Sep 2026

The Kazakh government has released its macroeconomic forecast for 2027-2029, along with aggregate republican budget figures and some data tied to the consolidated budget. Overall, the outlook seems reasonable, though the baseline scenario may be a bit optimistic, projecting steady GDP growth of 5...

Bi-Weekly Economic News Summary

KAZAKHSTAN · In Brief · 26 Aug 2026

Aug 13 US Department of Agriculture: The agency has raised its forecast for wheat exports from Kazakhstan in the current agricultural year (July 2026 to June 2027) from 9 to 10 mln tons. Aug 14 National pipeline company: Kazakh oil exports to Russian Ust‑Luga port were cut by 16.9% y-o-y, while e...

Kazakhstan macro: The tenge remains strong as the current account turns positive and capital flows in

KAZAKHSTAN · Report · 25 Aug 2026

S&P Global Ratings recently upgraded Kazakhstan’s sovereign credit ratings to BBB from BBB- (long-term) and A-2 from A-3 (short-term), recognizing the government’s fiscal reforms and greater resilience to external shocks. The agency noted GDP growth could reach about 5.1% this year — well above i...

Kazakhstan macro: navigating a series of external shocks

KAZAKHSTAN · Report · 19 Aug 2026

Recently published economic statistics indicate that despite a number of external shocks that had affected the nation’s ability to export oil, Kazakhstan’s economy is still performing fairly well, although perhaps falling a bit short of expectations. According to the Bureau of National Statistics...

Statistics suggest economy keeps growing in 7M26 fast enough, albeit growth moderates

KAZAKHSTAN · In Brief · 17 Aug 2026

Recent economic and financial data show that Kazakhstan’s economy is still performing fairly well, though perhaps falling a bit short of expectations, with GDP in the first half of 2026 up 4.1% year-on-year and the short-term indicator - a monthly measure of activity across six key sectors - risi...