ASTANA, Kazakhstan, December 3. Kazakhstan’s economy is expected to expand 6.-6.5% in 2025, the National Bank of Kazakhstan said, Trend reports.
As such, the NBK revised its earlier projection higher due to faster-than-expected oil production and a recent pickup in investment and consumer demand, partly ahead of the planned 2026 VAT reform.
For 2026, growth is now forecast at 3.5-4.5%, down from previous expectations, reflecting the high 2025 base and the dampening effects of tax and fiscal consolidation measures on domestic demand.
Economic expansion is projected to reach 4-5% in 2027, supported by continued investment growth, moderate consumer demand, and higher oil output.
The central bank maintained its baseline oil price assumption at $60 per barrel of Brent through the forecast horizon.