BAKU, Azerbaijan, October 14. Kazakhstan's
construction sector is projected to grow by 17.3% in 2029, up from
16% in 2027, as infrastructure development and modernization
support economic activity, Deputy Prime Minister and Minister of
National Economy Serik Zhumangarin said during a Mazhilis
session.
This was reflected in the statement, published by the press
service of the Kazakh government.
"The growth rate of the manufacturing industry will outpace that
of the mining industry. Metallurgy, mechanical engineering, the
production of building materials, the chemical industry, and food
production will make the primary contribution to growth in the
manufacturing sector," he noted.
Agriculture is also expected to drive economic growth, with
average annual growth projected at no less than 5%.
Zhumangarin said that the projected expansion would be supported
by the continued development of transport and logistics, energy and
water infrastructure, as well as the modernization of housing and
utilities and social infrastructure.
Meanwhile, inflation is expected to gradually decline, reaching
7.5-9.5% in 2027 and 6-8% in 2028-2029.
The macroeconomic projections have been used to prepare the
forecast budget parameters and National Fund indicators for
2027-2029.
Yesterday at the government meeting Zhumangarin noted that
Kazakhstan's annual inflation slowed to 9.3% in September 2026,
down from 9.8% in August.
"Containing inflation is one of the government's priorities in
its efforts to increase real incomes. Amid slowing inflation, real
household monetary incomes rose by 0.7% in the second quarter of
this year, compared with 0.1% in the first quarter," he added.
