World Bank puts Kazakhstan's growth at 4.6 per cent with inflation easing to 9.8 per cent

21 October 2026

The World Bank says Kazakhstan's economy expanded by 6.5 per cent in 2025 and then moderated to 4.1 per cent year-on-year in the first half of 2026. Growth is projected to moderate to 4.6 per cent in 2026. Inflation eased to 9.8 per cent in August 2026 from 12.3 per cent in December 2025, against the National Bank's target of 5 per cent. Unemployment stood at 4.5 per cent in the first quarter of 2026 and the fiscal deficit held steady at 2.2 per cent of GDP. Public debt remained stable at 24.4 per cent of GDP and foreign reserves rose to 70.6 billion dollars. The poverty rate is expected to fall to 7.9 per cent by 2028. Kazakhstan has a population of just over 20 million and a density of 7.4 people per square kilometer.