Astana (TDI): Kazakhstan’s economy is on track to enter a new phase of expansion, with gross domestic product projected to surpass $300 billion for the first time by the end of 2025, President Kassym-Jomart Tokayev announced at a national ceremony honoring the Altyn Sapa, Paryz, and Best Product of Kazakhstan award winners.
Over the past decade, Kazakhstan has posted consistent GDP growth, except for the pandemic-affected year of 2020, when output fell to $171.1 billion. The economy rebounded strongly in subsequent years, rising to $197.1 billion in 2021, around $288.4 billion in 2024, and is now poised for a historic breakthrough in 2025.
Tokayev said economic growth for 2025 is expected to exceed 6%, pushing GDP past the $300 billion threshold for the first time.
The president emphasized that growth in the real sector has become increasingly balanced over the past five years. Gross value added in manufacturing rose 25%, outpacing gains in the extractive sector, a longstanding pillar of Kazakhstan’s economy.
Investment and productivity indicators have also surged. Investments in fixed capital increased by 70% over the past five years, labor productivity grew by 40%, non-resource exports doubled, while the number of exporters tripled, and Kazakhstan now exports to 140 countries.
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Small and medium-sized enterprises (SMEs) continue to play a central role in economic development, Tokayev noted. SMEs now contribute 40% of GDP, with the number of such enterprises rising 1.5 times and their output increasing 2.5 times over five years. Nearly 4.5 million people, almost half the country’s workforce, are employed in the business sector.
Tokayev also highlighted ongoing work on the new Tax Code, set to take effect in 2026. He acknowledged concerns raised by entrepreneurs and instructed the government to review contentious provisions.
“Sustainable development of entrepreneurship relies on mutual obligations: the state provides favorable conditions, and businesses pay taxes. The government must find a reasonable balance, there is no other option,” he said.
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The president further stressed the need to strengthen Kazakhstan’s digital business ecosystem, ensuring greater transparency and reducing bureaucratic barriers.
Looking ahead, Kazakhstan plans to nearly triple investment volumes by 2029, positioning the economy for continued long-term growth.
