Kazakhstan: Reserves Reach $70.57 Billion, Budget Deficit at 2.68 Trillion Tenge, GDP Grows 4.1%
In mid-September 2026, key macroeconomic data for Kazakhstan were released. International reserves rose by $7.25 billion in August to $70.57 billion, the budget deficit for January–August amounted to 2.683 trillion tenge, and GDP for the first half of the year grew by 4.1%.
Sources
· 3Key points
- Kazakhstan's international reserves rose by $7.25 billion (11.4%) in August to $70.57 billion.
- Gold assets increased by 15.8% to $55.8 billion, while foreign currency assets declined by $377 million to $14.78 billion.
- The republican budget deficit for January–August 2026 amounted to 2.683 trillion tenge, which is 246.6 billion tenge less than the plan.
- Kazakhstan's GDP grew by 4.1% in the first half of 2026 to 70.95 trillion tenge.
What happened
The National Bank of Kazakhstan reported that international reserves rose by $7.25 billion in August, reaching $70.57 billion, an 11.4% month-on-month increase. The increase was almost entirely due to the appreciation of gold assets: they rose from $48.17 billion to $55.8 billion, adding $7.62 billion, or 15.8%. Foreign currency assets decreased over the same month from $15.15 billion to $14.78 billion, down by $377 million.
The republican budget deficit for January–August 2026 amounted to 2.683 trillion tenge. This is 246.6 billion tenge less than the planned 2.929 trillion tenge. The non-oil deficit reached 6.32 trillion tenge against a plan of 6.43 trillion tenge. Revenue for the eight months totaled 14.82 trillion tenge, while expenditure was 16.97 trillion tenge.