IMF Forecasts Kazakhstan's Real Oil GDP Growth At 3.6% In 2026
The IMF also expects Kazakhstan's real non-oil GDP to grow by 4.6% in 2026, followed by a slight slowdown to 4.2% in 2027.
Overall, the IMF projects real GDP growth of 4.4% for Kazakhstan in 2026 and 4.2% in 2027.
According to the Bureau of National Statistics of Kazakhstan, the country's GDP grew by 6.5% in 2025.
The National Bank of Kazakhstan anticipates GDP growth in 2026 to fall within the range of 3.5% to 4.5%. This deceleration is attributed to the high base effect from 2025, subdued consumer demand, and the ongoing impact of fiscal reforms and budget consolidation. For 2027, the National Bank projects a growth rate between 4% and 5%.
Projections from the United Nations suggest a GDP growth of 4.6% for Kazakhstan in 2026, while Dutch bank ING has slightly raised its estimate to 4.8%. However, ING anticipates a more moderate growth of 4% in 2027. The World Bank's projections are similar, forecasting a 4.5% growth rate for 2026 and a slightly lower 3.9% for 2027.
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