Kazakhstan GDP grows 4.1% in H1 2026 as budget deficit set at 2.5%

September 6, 2026 at 12:10 PM2 min

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Kazakhstan's GDP grew 4.1% in the first half of 2026, with the republican budget executed at 27.7 trillion tenge, or 15.1% of GDP. The Ministry of Finance reported the deficit is planned at 2.5% of GDP for 2026, declining to 0.9% by 2028. Pension and benefit payments were made without a single day of delay, even as wage arrears reached 1.8 billion tenge across 85 enterprises.

Key Facts

Kazakhstan's GDP grew 4.1% in the first half of 2026, according to the Ministry of Finance.
The republican budget executed at 27.7 trillion tenge, or 15.1% of GDP, in H1 2026.
The budget deficit is planned at 2.5% of GDP for 2026, declining to 0.9% by 2028.
National Fund currency assets reached $65.1 billion as of July 1, 2026, up 2%.
Wage arrears totaled 1.8 billion tenge across 85 enterprises as of July 1, 2026.

Budget Execution

The Ministry of Finance reported that the republican budget executed at 27.7 trillion tenge, or 15.1% of GDP, in the first half of 2026. The budget deficit is planned at 2.5% of GDP for 2026, declining to 0.9% by 2028 under the new Budget Code. National Fund currency assets rose 2% to $65.1 billion as of July 1, 2026. The guaranteed transfer to the budget remains at 2,770 billion tenge with an oil cutoff price of $41.4 per barrel.

Social Payments

All pensions, benefits, and subsidies from the republican budget were paid without a single day of delay, the Ministry of Finance stated. From January 1, 2026, solidarity and basic pensions were indexed by 10%, and the maximum basic pension rose from 110% to 118% of the subsistence minimum. As of July 1, 2026, the average total pension was 197,500 tenge, comprising a solidarity payment of 103,500 tenge, a basic payment of 54,100 tenge, and ENPF payments of 40,000 tenge. In 2026, 4,857.5 billion tenge will be allocated for pension provision to 2.58 million citizens.

Wage Arrears

Wage arrears reached 1.8 billion tenge across 85 enterprises as of July 1, 2026. Current and overdue debt amounts to 515 million tenge owed to 618 workers at 37 enterprises. The largest debts were recorded in Almaty region at 151.0 million tenge, Turkestan region at 101.2 million tenge, and Zhambyl region at 59.8 million tenge. Bankrupt enterprises owe 1.3 billion tenge to 1,500 workers, with East Kazakhstan region accounting for 344.6 million tenge, Almaty region 320.9 million tenge, and Almaty city 220.1 million tenge. Four local strikes occurred in Mangystau region in H1 2026 due to social tension at enterprises, all of which were resolved, according to the Ministry of Labor.