BAKU, Azerbaijan, October 9. Kazakhstan’s
economic expansion is expected to moderate in the coming year,
according to the latest Asian Development Bank (ADB) outlook,
Trend reports.
Mining growth, which benefits from the recent Tengiz oilfield
expansion, is projected to peak at 7.7% in 2025 before slowing to
3.9% in 2026 as the country approaches maximum oil production
capacity. Both forecasts are slightly higher than ADB’s April
projections of 7.2% and 4.3%.
The outlook assumes Kazakhstan’s raw material exports will face
minimal tariff constraints and no further restrictions under the
OPEC+ oil production agreement. Manufacturing growth is supported
by state programs, with output expected to rise 4.8% in 2025 and
5.2% in 2026, above previous estimates.
Growth in services is expected to be slightly weaker, as higher
inflation reduces consumer purchasing power. Meanwhile, government
infrastructure modernization initiatives are set to boost
construction growth to 13.0% this year, significantly surpassing
the April forecast of 9.8%.
The ADB outlook highlights a gradual transition from
resource-driven growth toward a broader economic expansion
supported by manufacturing, services, and infrastructure
investment.
