The IMF’s latest World Economic Outlook, released on October 13 at the IMF and World Bank annual meetings in Bangkok, projects Kazakhstan’s inflation to fall from 11.4% in 2025 to 10.3% in 2026 and 8.2% in 2027. Economic growth is forecast at 4.4% in 2026, accelerating to 4.9% in 2027. Unemployment is expected to hold at 4.6% in 2026 before easing to 4.5% in 2027, and the current account balance is projected to stay positive at 0.5% of GDP in 2026. The report notes that Kazakhstan, outside the Persian Gulf, boosted oil output to help offset supply disruptions through the Strait of Hormuz. It is also cited as a commodity exporter benefiting from rising exports of technology goods from major Asian manufacturers.
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