Kazakhstan reappoints Serik Zhumangarin as deputy PM and economy minister

September 3, 2026 at 10:35 AM2 min

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Kazakh President Kassym-Jomart Tokayev reappointed Serik Zhumangarin as deputy prime minister and minister of national economy on September 3, 2026. Zhumangarin has held the post since December 2024 and will continue overseeing macroeconomic, budget, tax, and customs policy. The reappointment follows approval of his candidacy by the Kurultai's finance and budget committee.

Key Facts

Serik Zhumangarin was born on July 22, 1969, in Aktobe, Kazakhstan.
He graduated from the Moscow Power Engineering Institute, Karaganda State University named after E.A. Buketov, and the International Academy of Business.
From 1993 to 2004, Zhumangarin was engaged in entrepreneurial activity.
He headed the Agency for Protection and Development of Competition from 2020 to 2022.
Zhumangarin has served as deputy prime minister – minister of national economy since December 21, 2024.

Reappointment Decree

President Kassym-Jomart Tokayev signed a decree reappointing Serik Makashevich Zhumangarin as deputy prime minister – minister of national economy of the Republic of Kazakhstan. The decree was announced by the Akorda press service on September 3, 2026. The Kurultai's committee on finance and budget had previously approved Zhumangarin's candidacy for the post. The committee's decision was made in accordance with Article 30 of the Constitutional Law of the Republic of Kazakhstan "On the Kurultai of the Republic of Kazakhstan and the status of its deputies."

Career Background

Zhumangarin began his civil service career in 2005 as deputy head of the department of economy and budget planning in Aktobe. He later held positions in the Agency for Regulation of Natural Monopolies in Aktobe region, the Ministry of Industry and Trade, and the Ministry of Economic Development and Trade. From 2019 to 2020, he served as a member of the Board of the Eurasian Economic Commission for Competition and Antitrust Regulation. In 2022, he became minister of trade and integration, and in 2023 he was appointed deputy prime minister. On December 21, 2024, he was appointed deputy prime minister – minister of national economy.

Policy Portfolio and Controversy

Zhumangarin oversees macroeconomic, budget, tax, customs policy, demonopolization, the financial sector, tariffs, trade, and business development. He is known as the "father of the tax reform" and the main promoter of the new Tax Code, which has drawn criticism from entrepreneurs and economists. In the first quarter of 2026, 76,400 individual entrepreneurs closed in Almaty, Astana, and Shymkent, 2.5 times more than the same period a year earlier. Zhumangarin attributed the closures to the liquidation of inactive individual entrepreneurs, but the business community disagreed. Former AIFC senior adviser Anar Omarova compared Kazakhstan's trajectory to Zimbabwe, saying the economy is growing but poverty is increasing.