Kazakhstan to allocate $14.3B from National Fund for infrastructure by 2029, Tokayev says

President Kassym-Jomart Tokayev said Kazakhstan will allocate about 6.5 trillion tenge (approximately $14.3 billion) from the National Fund by the end of 2029 to implement a large-scale infrastructure modernization plan. He made the announcement in his Address to the People of Kazakhstan, according to the presidential press service.

Tokayev cited International Monetary Fund forecasts that Kazakhstan's gross domestic product will approach $400 billion this year, with GDP per capita exceeding $19,000. He said the manufacturing industry, whose share of GDP exceeds 14%, is growing rapidly, which he described as a tangible result of efforts to diversify the economy. Gold and foreign exchange reserves, together with National Fund assets, have exceeded $130 billion.

Tokayev instructed the government to implement the construction initiative, which will build social, transport and engineering infrastructure across the country. About 1.5 trillion tenge (approximately $3.3 billion) should be earmarked for social projects this year and during the first two months of 2027. The dollar figures use the National Bank's rate of 455.63 tenge per $1 as of October 28, 2026.