Kazakhstan Unveils 2026–2028 Plan to Boost Income, Stabilize Economy, and Accelerate Growth

Kazakh Deputy Prime Minister and National Economy Minister Serik Zhumangarin has announced that Kazakhstan rolled out an ambitious 2026-2028 macroeconomic program aimed at raising real income, reducing inflation, and driving sustainable growth.

The joint initiative of the Government, the National Bank, and the financial market regulator outlines a sweeping package of tools to strengthen key sectors, modernize infrastructure, and diversify the economy beyond raw materials, The Caspian Post reports via Kazakh media.

The strategy centers on:

Launching 100+ investment projects every year in manufacturing and agriculture

Advancing 17 major initiatives in metallurgy, engineering, petrochemicals, and the agro-industrial complex

Accelerating technological renewal, productivity growth, and digitalization

Implementing the National Infrastructure Plan (until 2029) and the national energy and utilities modernization project

Zhumangarin said Kazakhstan expects no less than 5 per cent annual economic growth in 2026-2028, supported by rising human capital, improved productivity, and stronger technological capacity.

Second-tier banks and Baiterek Holding will serve as key lenders for the real sector, with the Government allocating up to 1 trillion tenge to Baiterek over three years. Priority industries include metallurgy, engineering, energy, infrastructure, tourism, food production, chemistry, petrochemicals, agrochemicals, and construction materials.

Foreign investment will also be boosted through the Astana International Financial Centre (AIFC).

Earlier, it was reported that the Government is considering raising the minimum wage in 2027-2028.