Kazakhstan GDP grows 4.1% in H1 2026 as state-funded construction surges 15.2%
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Kazakhstan's economy expanded 4.1% in the first six months of 2026 from a year earlier, the Bureau of National Statistics reported. Construction output jumped 15.2%, driving the growth alongside transport, manufacturing, trade and communications. The strong figures come even as a significant share of construction is tied to state-financed projects, muddying the picture of private-sector momentum.
GDP Growth and Sectoral Drivers
Kazakhstan’s gross domestic product rose 4.1% in January–June 2026, according to the Bureau of National Statistics. Growth was led by construction (+15.2%), transport, manufacturing, trade and communications. Regional data showed the strongest momentum in subsidised regions: Turkistan, Ulytau and Shymkent. The expansion follows a 6.5% surge in 2025 and returns to a more moderate pace after 5.1% in 2023 and 4% in 2024.
State-Financed Construction Impact
The construction sector’s 15.2% increase was underpinned by state-backed projects. Residential housing completions reached 8.5 million square metres, up 6.7% year-on-year. Large-scale initiatives such as the ‘Comfortable School’ programme are funded through the National Fund via Samruk-Kazyna Construction, while medical facilities rely on local budgets or public-private partnerships where the state guarantees repayment. Mortgage-linked housing programmes also boosted the numbers. This reliance on public spending raises questions about the sector’s organic growth.
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