Kazakhstan economy grows 4.1% in first half of 2026
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakhstan's economy expanded 4.1% year-on-year in real terms in January-June 2026, accelerating 0.4 percentage points from the January-May pace. The non-oil sector drove growth, contributing over 80% of GDP gains, led by construction with a 15.2% increase.
Pension Transfer Surge
In June, the Unified Accumulative Pension Fund (ENPF) processed 11,900 applications for transferring pension savings to private asset managers, 2.1 times more than in May. The total amount transferred rose 3.2 times to 14 billion tenge ($30 million). Both figures are the highest since the mechanism launched in 2021.
Freedom Holding Fundraising
Freedom Holding, founded by billionaire Timur Turlov, raised $300 million in a private placement. The company plans to use the funds for international expansion, having recently received approval to acquire a bank in Turkey and applied for a banking license in France.
Global Chip Demand
TSMC's June revenue surged nearly 68% year-on-year, with first-half revenue up 35%, signaling sustained AI chip demand. However, investors remain concerned about the massive capital expenditures on data centers and their profitability.
What's Next
The Kazakh government is expected to release sectoral GDP breakdowns later this month. It remains unclear whether the non-oil growth momentum can be sustained amid global economic headwinds.
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Kazakhstan economy grows 4.1% in first half of 2026
