IMF commends Kazakhstan’s economic reforms as GDP growth hits 6.4%
Deputy Prime Minister - Minister of National Economy Serik Zhumangarin met with Ali Al-Eyd, IMF Division Chief for Central Asia and Mission Chief to Kazakhstan, Qazinform News Agency cites primeminister.kz.
IMF's vital role
During the talks, the Kazakh Deputy Prime Minister thanked the IMF for its consistent analytical work under the Fund's Articles of Agreement, noting their consultations and technical assistance to Kazakhstan's state agencies, including the National Bank and the Agency for Regulation and Development of the Financial Market.
"Our long-term partnership with the IMF plays a vital role in ensuring macroeconomic stability and building a sustainable architecture for economic growth. The Fund's recommendations help us make balanced decisions, while our cooperation fosters institutional reforms and enhances macroeconomic and macroprudential policies," Serik Zhumangarin stated.
Reforms and economic performance
He briefed the mission on the progress of structural reforms, specifically noting the enactment of the new Budget and Tax Codes. Zhumangarin also outlined the key pillars of the 2026-2028 Joint Action Program, involving the Government, the National Bank, and the Agency for Regulation and Development of the Financial Market.
Presenting updated macroeconomic data, the Deputy Prime Minister highlighted that GDP growth reached 4.8% in 2024 and 6.4% in the first ten months of 2025.
Recommendations and future collaboration
Ali Al-Eyd commended the high level of cooperation between the IMF and Kazakhstan. He noted significant progress in conducting tax reforms, strengthening the fiscal position, and maintaining high rates of economic growth alongside a clear long-term strategic vision. However, the IMF representative also emphasized the need for further reducing inflation rates, pointing out their multi-component nature and the influence of external factors.
The parties discussed future collaboration prospects, including strengthening analytical and expert exchanges and joint efforts to maintain sustainable economic growth.
The meeting took place in a constructive spirit, reaffirming the shared commitment to continue close dialogue and deepen cooperation between Kazakhstan and the IMF.
Earlier, Qazinform reported that according to Ali Al-Eyd, speaking at a press briefing following the annual Article IV consultations, the IMF delegation held two weeks of meetings with representatives of government bodies and financial institutions to discuss macroeconomic stability, tax policy, and the financial sector.
