Kazakhstan to Allocate $17 Billion for Economic Growth and Energy Projects
Kazakhstan is set to allocate 8 trillion tenge (US$17 billion) to bolster economic growth, targeting a GDP increase of at least 5% and a reduction in inflation to 9-11%. The plan includes increasing fixed capital investment to 18% of GDP, raising household incomes by 2-3%, and designating five hydropower plants as strategic projects. Additionally, the country aims to expand gas exploration across 30 areas, enhancing its energy security with estimated resources of 1.7 trillion cubic meters.
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Kazakhstan will allocate 8 trillion tenge (US$17 billion) to support economic growth and ensure a GDP increase of at least 5%, according to Deputy Prime Minister Serik Zhumangarin. The government aims to stabilize the economy, increase fixed capital investment to 18% of GDP, and raise household incomes by 2-3%.
Inflation is targeted to be reduced to a 9-11% corridor. Additionally, five hydropower plants will gain strategic status, and the Data Center Valley project will develop infrastructure in Ekibastuz. The country also plans to expand gas exploration to 30 areas, with estimated resources of 1.7 trillion cubic meters, to enhance energy security.
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