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Kazakhstan news
Kazakhstan plans to raise the share of pension assets managed by private domestic companies to 20-30% by 2030, the Agency for Regulation and Development of the Financial Market said. The move is part of a capital market development programme to 2030 developed with the National Bank.
Kazakh President Kassym-Jomart Tokayev is taking part in the 7th summit of the Conference on Interaction and Confidence-Building Measures in Asia (CICA) in Baku, Azerbaijan. Egemen.kz reported this, citing the press service of the Akorda presidential administration. Tokayev arrived in Baku on a working visit and was met at Baku airport by Samir Sharifov, Deputy Prime Minister of Azerbaijan.
Kazakhstan expects to receive nearly 3.78 trillion tenge (US$7.9 billion) from oil-sector organizations for its National Fund in 2027, according to a draft national budget for 2027-2029. Deputies of the Kurultai approved the draft in the first reading on Oct. 14.
Important changes concerning housing and property rights are enshrined in Kazakhstan's new Constitution, according to Khabar 24, citing 24KZ. The state continues to take on the obligation to create conditions for citizens to obtain housing and to support those who need to improve their living conditions.
Asylzhan Musin, director of the electricity development department at Kazakhstan's Ministry of Energy, said installed capacity at the country's power plants will fully cover electricity demand in 2029 with a 20% reserve. He said that if all planned projects are completed on schedule, Kazakhstan will reach self-sufficiency in early 2028. The reserve is needed to cover possible system accidents and ensure independence from imports.
According to analysts at Ranking.kz, fixed capital investment in Kazakhstan increased by 17% in January-August 2026. Adjusted for price changes, real growth was 8.1%.
Automobile manufacturing in Kazakhstan rose 34.2% year-on-year in January–September 2026 to more than 146,000 vehicles. The Qazinform News Agency, citing Ranking.kz, reported that Chevrolet, Hyundai and Kia led the output.
Kazakhstan aims to raise its transit cargo volume to 100 million tonnes a year. According to plans discussed at Kazakhstan Transport Week in Astana, the capacity of its sea ports will be quadrupled and the capacity of its fleet increased fivefold by 2035.
Uzbekistan has toughened punishment for crimes against children, including sexual abuse of minors under 14 years old, according to Qazinform News Agency. Under the new legislation, people convicted of raping a child under 14 can face up to 25 years in prison or life imprisonment.
The 2027 Four Continents Figure Skating Championship has been moved from Astana to Almaty, Kazakhstan, because of the aftermath of a fire at an energy facility that serves the left-bank part of the capital, according to 24KZ. The decision was taken at a meeting of the ISU Council in Lausanne, and the competition will be held at Almaty Arena.
Kazakhstan plans to change its approach to social assistance from next year. Deputies of the Kurultai discussed the new principles while approving the draft republican budget for the next three years in first reading. Under the changes, state support will go only to those who truly need it. The government says the decision will free up hundreds of billions of tenge for other priority tasks.
Kazakhstan’s Ministry of Internal Affairs has provided an update on the pre-trial investigation into a Caspian Sea tragedy in which 14 conscripts died. In a statement to NUR.KZ, the ministry’s press service said an inter-agency operational investigative group led by the military investigation department is continuing the pre-trial probe. The incident took place in Aktau.
Kazakhstan has attracted more than $155 billion in foreign direct investment into its economy over the past seven years, according to data from the Foreign Ministry, as reported by Khabar 24. Significant amounts went into manufacturing, the chemical industry, transport, communications and the financial sector.
Diplomacy
Kazakhstan hosted King Philippe and Queen Mathilde of Belgium on a state visit at the invitation of President Kassym-Jomart Tokayev. According to Kazinform, it is the first time Kazakhstan has received the Belgian royal couple with a state visit. The trip was also the first visit by a reigning Belgian monarch to the Central Asia region.
Kazakhstan's President described the People's Council as a “unique, entirely new, innovative institution” at its session. The start of the Council's work marked the end of a large-scale cycle of renewing the political system.
Economy
Deputy Prime Minister and Minister of National Economy Serik Zhumangarin presented Kazakhstan's socio-economic development forecast for 2027 to 2029, according to a correspondent of the Kazinform news agency.
Kazakhstan Prime Minister Olzhas Bektenov told the Kurultai that the government is holding its course toward strengthening public finances and reducing budget dependence on borrowing and transfers. He was answering deputy Natalya Godunova's question on the 2027 republican budget deficit.
Kazakhstan's government has prepared three scenarios for the country's economic development in 2027, with GDP growth ranging from 3.2% to 5.9% depending on oil prices. Presenting a 2027-2029 socio-economic forecast at a Kurultai meeting, Minister of National Economy Serik Zhumangarin said the government expects slower GDP growth among Kazakhstan's main trading partners. International organisations have also lowered their 2027 oil price forecast to $70.3 per barrel.
Kazakhstan's government expects to save 700 billion tenge in 2027 and nearly 2.5 trillion tenge over three years by cancelling benefits and payments to wealthy citizens. Prime Minister Olzhas Bektenov announced the figures on Wednesday during a Kurultai session reviewing the 2027–2029 draft budget in its first reading.
Armenian Prime Minister Nikol Pashinyan has proposed that Armenia and Azerbaijan exchange territories of equal area to eliminate enclaves and exclaves along their border. NUR.KZ, the Kazakh outlet, reported the proposal, citing RBK.
Construction is under way on three key transport corridors in Kazakhstan's Aktobe region, launched on the instruction of the Head of State to boost the country's transit potential. The Center–West highway from Astana and a new Beineu–Seksaul road will open a direct route to the Aktau and Kuryk seaports, cutting the distance by 900 km.
Kazakhstan's Central Election Commission has set 29 November as the date for extraordinary elections to maslikhat councils at all levels. Seven political parties have been admitted to the vote.
On October 14, Prime Minister Olzhas Bektenov said the government is readying a social security reform that will eliminate a number of benefits for “well-off” citizens. Speaking at the Kurultai, Kazakhstan’s parliament, he said the measures will save 700 billion tenge ($1.6 billion) in 2027 alone.
Kazakhstan's Minister of National Economy Serik Zhumangarin said at a briefing in the Kurultai that the country's minimum wage (MZP) could be raised. The remarks were reported by a NUR.KZ correspondent.
Today's top Turkic news: Uzbekistan-China ties, Samarkand visit, Kulubaev-Rubio talks, Northern Cyprus festival and Turkmen desertification centre.
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