Kazakh Government presents 2026-2028 program for raising people’s incomes
Deputy Prime Minister - National Economy Minister of Kazakhstan Serik Zhumangarin presented a comprehensive program of joint actions by the Kazakh Government, National Bank, and financial market development and regulation agency on macroeconomic stabilization and improving citizens’ welfare for 2026–2028, Qazinform News Agency reports.
The program prioritizes an increase in real incomes through sustainable economic growth and reduced inflation and provides for a package of measures and tools of key economic policy directions.
It will also focus on non-resource sectors, productivity growth, technological modernization, and digitalization.
It is planned to launch over 100 investment projects annually in the manufacturing and agriculture sectors, and continue 17 major projects in metallurgy, engineering, petrochemicals, and the agro-industrial complex.
Implementation of the National Infrastructure Plan (until 2029) and the national project for the modernization of energy and utilities will play a key role in the development of the program.
Zhumangarin said economic growth in 2026-2028 is projected at least at 5%.
He stressed the Government will also contribute to the growth of important sectors such as human capital, fixed capital, natural resources, labor productivity and technology.
As stated, the second-tier banks and Baiterek Holding will be key lenders to the real sector.
Among the priority sectors are metallurgy, engineering, energy, infrastructure, tourism, agro-industrial complex, food industry, chemistry, petrochemicals, agrochemicals, and construction materials.
To this end, the Government will allocate up to 1 trillion tenge to Baiterek during 2026–2028. In addition, the Astana International Financial Centre (AIFC) will attract foreign investments.
As written before, the Government to consider raising minimum wage in 2027-2028.
