BAKU, Azerbaijan, May 1. The International Monetary Fund (IMF) has revised its economic growth projections for Kazakhstan for 2025 and 2026, raising them compared to the previous estimates from October 2024, Trend reports.
In its April report, the IMF forecasts Kazakhstan's GDP growth
at 4.6 percent in 2025 and 3.5 percent in 2026. These projections
are 0.8 and 0.3 percentage points higher than those expected in
October 2024.
Kazakhstan's economic growth, as in previous years, is supported by
strong performance in non-oil sectors, including construction,
mining, and services. In particular, a key factor contributing to
economic growth is the ongoing development of infrastructure,
including major energy projects such as the Tengiz oil field.
However, growth is expected to slow down in 2026 as the impact of current fiscal measures fades, along with a decline in hydrocarbon production and the influence of global economic factors.
According to IMF experts, Kazakhstan, as an oil-exporting country, faces challenges related to oil price volatility, but efforts to diversify the economy and the sustainable development of oil and gas infrastructure are helping to maintain positive dynamics in the long term.
In its recent outlook, the IMF forecasts GDP growth in the Central Asia region at 4.9 percent in 2025 and 4.3 percent in 2026 — both 0.4 percentage points higher than its October 2024 estimates. Growth is expected to ease gradually from 5.4 percent in 2024 but remain above pre-pandemic averages.
