BAKU, Azerbaijan, June 9. Kazakhstan’s Energy
Minister Yerlan Akkenzhenov and Head of the IMF Mission to
Kazakhstan Amina Lareche discussed current trends in the country’s
energy sector development, Trend reports, citing the Kazakh ministry.


During the meeting, the sides addressed issues of energy
security, investment attractiveness of the industry, as well as
prospects for the development of the oil and gas complex and the
electricity sector.


Akkenzhenov said Kazakhstan remains committed to ensuring the
stable functioning of its energy system, which plays a key role in
the country’s economic development. He noted that particular
attention is being paid to the modernization of energy
infrastructure, the development of petrochemicals, the expansion of
the resource base, the attraction of investments, and the
diversification of export routes.


The discussions also covered the development of renewable energy
sources. Both sides exchanged views on improving sector policies,
strengthening energy security, and enhancing the efficiency of the
energy system. The IMF reportedly positively assessed Kazakhstan’s
ongoing efforts to develop its energy industry.


In the context of the global energy agenda, the meeting
highlighted the importance of maintaining stability in
international energy markets, reliability of supply chains, and
predictability in global energy trade conditions.







The parties confirmed mutual interest in further constructive
cooperation and continued dialogue on the sustainable development
of Kazakhstan’s energy sector and economy.


Kazakhstan joined the International Monetary Fund in 1992.
According to the IMF, the most recent Article IV Executive Board
Consultation was concluded on January 20, 2026, noting that
Kazakhstan’s economy continued to grow at a rapid pace in 2025,
supported by rising oil production and strong performance in
non-oil sectors.


“Strong domestic demand, underpinned by an expansionary public
sector stance, has contributed to clear signs of economic
overheating. Alongside imported price pressures, this has helped
push inflation well above its target. Overall, banks remain
resilient amid rapid consumer credit growth. In the medium-term,
growth is projected to moderate to around 3½ percent, and inflation
would decline only gradually to its 5 percent target by 2030” the
IMF said.