Kazakhstan’s National Fund and Reserves Reach $127.3 Billion
Images | Depositphotos
The combined volume of Kazakhstan’s National Fund and gold and foreign exchange reserves has reached $127.3 billion. The figure was announced during a meeting between President Kassym-Jomart Tokayev and National Bank Governor Timur Suleimenov, according to Akorda.
"The National Fund’s investment income reached $2.3 billion in the first half of this year. Pension assets managed by the Unified Accumulative Pension Fund amounted to 27.8 trillion tenge, an increase of 1.7 trillion tenge since the beginning of the year," the statement said.
The president was also briefed on lending trends in the economy.
As of 1 July 2026, banks’ loan portfolios for business lending had increased by 17.1% year-on-year, while lending to small and medium-sized businesses accelerated to 29.6%.
"At the same time, growth in consumer lending slowed from 21.0% at the beginning of the year to 13.0%, demonstrating the effectiveness of the prudential measures adopted and a normalisation in the pace of consumer lending. As a result, credit resources are being redirected towards financing businesses," the press service said.
Tokayev was briefed on the state of the economy, business activity, factors driving inflation and measures being taken to stabilise prices.
According to Akorda, annual inflation has declined for the tenth consecutive month, reaching 10.2% in July.
The president was also updated on the implementation of his instructions to develop the digital financial assets industry and Kazakhstan’s national digital financial infrastructure.
"As part of the national payment system, QR payments and transfers using phone numbers between customers of any bank have been available since 19 July. Since the launch, the system has processed 6.5 million transactions worth 170 billion tenge," the press service said.
Suleimenov said the National Bank was taking all necessary measures to ensure price stability and achieve its medium-term inflation target of 5%.
Following the meeting, Tokayev set a number of tasks for the National Bank and stressed the importance of further stabilising inflation.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
relevant news
Kazakhstan Invites Chinese Companies to Invest in Mineral Exploration and Processing
Kazakhstan has invited Chinese and international companies to cooperate in mineral exploration, mining and advanced processing. Industry and Construction Minister Yersayin Nagaspayev made the announcement at the China Mining 2026 international conference in Tianjin, according to Kazakhstan’s Ministry of Industry and Construction.
"Kazakhstan offers opportunities to jointly create new value chains and modern production facilities. We invite Chinese and international companies to cooperate in geological exploration, mining and advanced processing of mineral resources. We place particular emphasis on attracting modern technologies and localising production. It is important to take industrial cooperation to a new level and implement projects that serve the long-term interests of our countries," Nagaspayev said.
The minister noted the steady expansion of business and investment ties, as well as closer industrial cooperation in recent years.
According to the ministry, around 11,000 companies with Chinese participation currently operate in Kazakhstan. The country’s largest partners include CNPC, Sinopec, CITIC Group, Zijin Mining, East Hope Group, Huawei, PowerChina, SANY, Fufeng and Lihua Group, among others.
These companies are implementing projects in the oil and gas industry, mining, energy, infrastructure, high technology and other sectors.
President Kassym-Jomart Tokayev previously said that relations between Kazakhstan and China had reached an unprecedentedly high level
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
BRICS Voices Concern Over Growing Unilateral Trade Measures
Images | Image created using AI
BRICS countries have expressed serious concern over the unilateral imposition of trade and financial measures, including tariff increases and non-tariff restrictions, a Kazakhstan Today correspondent reports.
"We remain seriously concerned about the unilateral imposition of trade- and finance-related measures, including tariff increases and non-tariff measures that distort trade and are inconsistent with World Trade Organization rules," RIA Novosti quoted the statement as saying.
The statement noted that such pressure has the greatest impact on emerging economies.
"We reaffirm our support for an open, transparent, inclusive, non-discriminatory and rules-based multilateral trading system with the World Trade Organization at its core," the statement said.
BRICS countries also warned of significant challenges facing the global economy.
"The global economy is facing significant challenges. Risks to the global economic outlook remain elevated, reflecting persistent geopolitical tensions, trade fragmentation and protectionism, policy uncertainty, fiscal and inflationary pressures, rising debt and financial vulnerabilities," the document said.
The BRICS summit is due to take place in India.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Kazakh Citizens to Make QR Payments in China, India and UAE
Kazakhstan is working to introduce cross-border QR payments with 11 countries, with the service expected to launch in China by the end of 2026, a Kazakhstan Today correspondent reported.
Speaking on the sidelines of the Central Asia FinTech Summit 2026, National Bank Deputy Governor Binur Zhalenov said the countries involved include China, India, the United Arab Emirates, Kyrgyzstan and Uzbekistan. Practical agreements have already been signed in several areas.
"We are currently working on cross-border payments with 11 countries, including China, India, the United Arab Emirates, Kyrgyzstan and Uzbekistan. We expect the system to become operational with China by the end of this year. It will be rolled out gradually in the other countries, tentatively by the middle of next year," Zhalenov said.
The new system will allow Kazakh citizens to pay for goods and services abroad through their usual banking apps by scanning a QR code.
It will also work in reverse, allowing foreign visitors to pay for purchases in Kazakhstan in the same way.
Banks will set their own fees for cross-border QR payments. Zhalenov said the National Bank does not regulate the fees banks charge their customers.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Kazakhstan and Uzbekistan Plan Joint Silk Road Tourism Routes
Kazakhstan and Uzbekistan plan to develop joint tourism routes along the Great Silk Road, expand transport links and simplify border and visa procedures for travelers, Kazakhstan’s Ministry of Tourism and Sports said following a bilateral tourism forum in Astana.
In 2025, Kazakhstan welcomed about 5.6 million visitors from Uzbekistan, while around 2.9 million Kazakh citizens traveled to Uzbekistan.
Tourism between the two countries has been supported by expanding transport links and new flights connecting Almaty, Tashkent, Samarkand, Atyrau, Oral, Kostanay and Urgench.
Kazakh Vice Minister of Tourism and Sports Miras Tulebayev said the two countries could jointly promote Central Asia as a single tourism destination.
"International travelers increasingly want to see an entire region rather than just one country during a single trip. That is why it is important for us to promote Kazakhstan and Uzbekistan together as part of one attractive journey through Central Asia. Our task is to turn our strengths into specific tourism products, convenient routes and a strong, recognizable offering on the global market," he said.
Tulebayev identified the development of cross-border routes along the Great Silk Road, expanded transport links and simplified border and visa procedures as key areas of cooperation.
Forum participants also discussed expanding direct air services, developing hotel infrastructure, attracting international hotel brands and advancing pilgrimage, spiritual and wellness tourism.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Kazakhstan Plans to Expand Digital Tenge Use to 2 Trillion Tenge
Kazakhstan plans to expand the use of the digital tenge to 2 trillion tenge over the next 12 months, National Bank Governor Timur Suleimenov said at the Central Asia Fintech Summit 2026.
"We have a firm commitment agreed with the government. Our initial target was 1 trillion tenge, but given the new objectives related to major infrastructure, construction and other programs, we now aim to increase the use of the digital tenge to 2 trillion tenge over the next 12 months," Suleimenov said.
He said the digital tenge was being gradually integrated into public procurement, budget planning and government funds. The National Bank is not prioritizing its use for retail payments because commercial banks already offer their own consumer payment products.
Suleimenov also said 90% of payments in Kazakhstan were now cashless.
He highlighted the nationwide interbank QR payment system, launched July 19. The system has already processed 20 million transactions worth more than 400 billion tenge and secured a 25% market share, he said.
The digital tenge was launched in 2023, followed by the Anti-Fraud Center in 2024. Kazakhstan developed its interbank payment infrastructure in 2024 and 2025 before launching the interbank QR system this year.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Kazakhstan Steps Up Efforts to Attract Foreign Investment
Kazakhstan’s Foreign Minister Mukhtar Tileuberdi has instructed officials to step up engagement with foreign investors and accelerate the implementation of investment projects in the country, according to the Foreign Ministry.
Tileuberdi held a working meeting with the leadership of the Foreign Ministry’s Investment Committee and the national company KAZAKH INVEST. The participants discussed the implementation of President Kassym-Jomart Tokayev’s directives on attracting investment and improving the country’s investment climate.
The minister was briefed on efforts to attract foreign direct investment and implement investment projects, as well as work with potential investors and the development of the national digital investment platform.
Preparations for international investment events were also discussed.
Following the meeting, Tileuberdi instructed officials to improve the effectiveness of engagement with investors, accelerate the implementation of investment projects and strengthen coordination in attracting capital to Kazakhstan’s economy.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
China’s SPIC to Invest $1.2 Billion in Wind Farm in Kazakhstan
A 1 GW wind farm is planned for construction near the city of Ekibastuz in Kazakhstan, with Chinese energy corporation State Power Investment Corporation (SPIC) set to invest $1.2 billion in the project, Kazakhstan’s Energy Ministry said.
Representatives of the ministry and SPIC executives discussed the progress of the project, which is being developed jointly with Kazakhstan-based Pavlodar Green Energy. The wind farm is scheduled to become operational in 2029.
The project also includes the construction of an energy storage system with a power capacity of 300 MW and a storage capacity of 600 MWh.
The new wind farm is expected to increase renewable electricity generation and improve the resilience of the regional power system.
The two sides also discussed other areas of cooperation and the possibility of launching new energy projects in Kazakhstan.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.