Kazakhstan's Construction Sector To Grow 17.3% In 2029 Minister

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 14. Kazakhstan's construction sector is projected to grow by 17.3% in 2029, up from 16% in 2027, as infrastructure development and modernization support economic activity, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin said during a Mazhilis session.

This was reflected in the statement, published by the press service of the Kazakh government.

"The growth rate of the manufacturing industry will outpace that of the mining industry. Metallurgy, mechanical engineering, the production of building materials, the chemical industry, and food production will make the primary contribution to growth in the manufacturing sector," he noted.

Agriculture is also expected to drive economic growth, with average annual growth projected at no less than 5%.

Zhumangarin said that the projected expansion would be supported by the continued development of transport and logistics, energy and water infrastructure, as well as the modernization of housing and utilities and social infrastructure.

Meanwhile, inflation is expected to gradually decline, reaching 7.5-9.5% in 2027 and 6-8% in 2028-2029.

The macroeconomic projections have been used to prepare the forecast budget parameters and National Fund indicators for 2027-2029.

Yesterday at the government meeting Zhumangarin noted that Kazakhstan's annual inflation slowed to 9.3% in September 2026, down from 9.8% in August.

"Containing inflation is one of the government's priorities in its efforts to increase real incomes. Amid slowing inflation, real household monetary incomes rose by 0.7% in the second quarter of this year, compared with 0.1% in the first quarter," he added.

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