Kazakhstan Pushes For World Bank Conference On Sustainable Economic Dev't

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, April 16. Kazakhstan has proposed organizing a conference on sustainable economic growth in partnership with the World Bank, Trend reports via the press service of the Kazakh government.

The initiative was presented by Deputy Prime Minister and Minister of National Economy Serik Zhumangarin during the roundtable, held at the World Bank headquarters in Washington.

According to the Deputy Prime Minister, Kazakhstan is consistently implementing reforms across key sectors, creating conditions for sustainable and high-quality economic growth.

During the roundtable, Advisor to the President and Chairman of the Agency for Strategic Planning and Reforms Asset Irgaliyev outlined the country's main development priorities, stressing that ongoing reforms are aimed at forming a coherent and long-term economic policy.

Furthermore, it was noted that the national economy continues to show stable dynamics. In recent years, annual GDP growth has consistently exceeded 5%, reaching 6.5% in 2025. Goods production increased by 8.7%, while the services sector grew by 5.2%.

Investment remains a key driver of growth. In 2025, fixed capital investment rose by 13% to $43.6 billion (22.7 trillion tenge). Gross foreign direct investment inflow reached $20.5 billion (+14.4%).

Growth momentum is continuing into 2026. Despite a temporary decline in oil production due to an incident at Tengizchevroil and restrictions on the Caspian Pipeline Consortium, the economy continued to expand. In the first quarter, GDP grew by 3%, driven by manufacturing (8.5%), transport (12.8%), and construction (14.8%).

Macroeconomic stability remains strong. International reserves increased by 23.8% since the beginning of 2025, reaching $129.5 billion, including $62.9 billion in National Fund assets.

Kazakhstan also maintains a low level of public debt. For more than ten years, the debt-to-GDP ratio has remained stable at around 25%. As of January 1, 2026, public debt stood at about $73 billion, or 22.8% of GDP.

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