Kazakhstan's economy is expected to continue expanding over the next two years despite growing geopolitical and energy market uncertainty, according to the Asian Development Bank's Asian Development Outlook July 2026, Qazinform News Agency correspondent reports.
The ADB projects Kazakhstan's GDP will grow by 4.5% in both 2026 and 2027, underscoring the country's resilience as the region faces slower economic growth and higher inflation driven by global energy market disruptions. The report notes that economic activity across developing Asia remained firm in the first quarter of 2026, supported by solid domestic demand despite higher energy prices and supply chain pressures stemming from tensions in the Middle East.
ADB expects Kazakhstan's inflation rate to gradually ease over the medium term. Consumer price growth is forecast at 10.4% in 2026, before slowing to 9.5% in 2027. While the bank lowered its overall growth forecast for developing Asia and the Pacific to 4.9% in 2026, it said the region continues to benefit from resilient domestic demand, with business activity recovering after the peak of the recent energy shock.
According to the ADB, the main risks to the regional outlook include renewed geopolitical tensions, tighter global financial conditions, higher commodity prices and trade uncertainty. Earlier, Qazinform News Agency reported that the ADB provided a $70 million concessional loan to support phase 2 of Kyrgyzstan's Sustainable Fiscal Management and Governance Improvement Program.