Budget and Economic Projections for the Next Three Years to Be Greenlighted in Kazakhstan
Kazakhstan Pushes Forward with Ambitious Investment Strategy
Kazakhstan is aggressively pursuing a development strategy that places investment attraction at the forefront. This strategy, which encompasses over 1,100 projects totalling approximately $144 billion, has attracted the participation of major international companies.
One of the key initiatives is the Tariff in Exchange for Investments program in the energy sector. Launched two years ago, this program has successfully attracted over 600 billion tenge (US$1.1 billion) and is being used to repair over 12,000 kilometers of utility networks.
The government's commitment to economic growth and social responsibility is evident in the ongoing tax reform. This reform will increase expenditures aimed at supporting economic growth from 10.9% to 16.1%. The funds from the Tariff in Exchange for Investments program are also being used to ensure full access to clean drinking water for 17 cities and 463 villages this year.
Prime Minister Olzhas Bektenov has reaffirmed the government's commitment to shaping Kazakhstan's role in the global landscape. He stated that the policy combines economic stimulation with social responsibility.
In the past year, 45 projects involving foreign capital worth $1.3 billion were launched. Notable participants in Kazakhstan's investment portfolio include CNPC (China National Petroleum Corporation), Chevron from the USA, and Eni from Italy, especially in the oil and gas sectors.
The government is also focusing on the modernization of the energy sector, including the adoption of renewable energy projects and improved infrastructure through investments in transportation and energy transmission networks. This is part of a broader effort to attract foreign direct investment and enhance energy efficiency.
Construction and renovation works are underway on 13,000 kilometers of roads in Kazakhstan. The government has allocated 147 billion tenge ($272 million) from the republican budget and an additional 160 billion tenge ($296 million) from the Special State Fund to ensure full access to clean drinking water for the population.
The government's socio-economic development forecast and republican budget for the next three years have been submitted to Parliament. The government aims to reduce the budget deficit from 2.5% of GDP in 2026 to 1.7% in 2027 and 0.9% in 2028. The nominal GDP of Kazakhstan is expected to grow from 183.8 trillion tenge in 2026 to 229.8 trillion tenge by 2028. The projected average annual real GDP growth for Kazakhstan between 2026 and 2028 is 5.3%.
The government is working towards achieving Kazakhstan's long-term stability, prosperity, and sustainable growth. All activities under the National Development Plan are being systematically implemented and remain under strict government control.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Stopping Osteoporosis Treatment: Timeline Considerations
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
