Government Unveils Measures to Boost Kazakhstan’s Economy

Kazakhstan's government is rolling out a package of measures aimed at enhancing household incomes, alleviating debt burdens, and maintaining macroeconomic stability, aligning with the president's directive for a new economic growth model. Improving citizens' welfare is identified as the government's foremost priority.

The nation's economy demonstrated resilience, growing by 3.7% in January-May, following a robust 6.5% expansion in 2025. Growth in non-resource sectors has become a key driver, exceeding 5% and signaling a gradual diversification away from oil dependency. Inflation has also shown signs of easing, slowing to 10.3% in June, nearing the government's year-end target of below 10%.

Key initiatives include raising wages, creating quality jobs, and supporting entrepreneurship. The government is also scrutinizing household credit burdens and the rapid increase in consumer lending. Simultaneously, efforts are underway to promote competition, boost domestic production, improve market supply chains, and reduce business operating costs.

In parallel, Kazakhstan is accelerating the modernization of its energy sector to bolster long-term energy security. The government has set an ambitious target to achieve a power surplus by 2029, indicating a strategic focus on energy independence and capacity expansion.