National Bank raises base rate to 18%
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The Monetary Policy Committee of the National Bank of Kazakhstan has decided to raise the base rate to 18% with a corridor of +/-1 percentage point, Kazinform News Agency reports.
In September, annual inflation accelerated to 12.9%, having surpassed the National Bank’s forecast.
Food remains the main driver of inflation, with prices rising by 12.7%. Certain food categories are becoming more expensive at an accelerated pace, largely due to increased production costs and higher import prices. Service inflation also makes a significant contribution, driven by rising costs of regulated services as well as several market-based services. Non-food inflation is accelerating, having reached 10.8%. Fuel prices rose by 11.9% over the year, with a 3.4% increase recorded in September alone. Monthly inflation accelerated to 1.1%. Core and seasonally adjusted inflation indicators also saw notable increase - to 1.2% and 1.3%, respectively. This trend points to the persistent nature of inflation and the gradual emergence of secondary effects in price dynamics," an official statement from the National Bank reads.
The financial regulator notes that external inflationary pressures persist, with growing risks primarily originating from global food markets. Record-high price rise in meat and vegetable oil has been observed in recent years. Amid active export activity, these trends are contributing to rising domestic prices.
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Kazakhstan extends ban on exports of petroleum products
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The Kazakh Government on Wednesday extended the ban on some exports of fuel, Kazinform News Agency reports.
Exporting petroleum, diesel and a range of other petroleum products by road and rail will be banned until May 20, 2026, within the EAEU. Exceptions include lubricating oil, fuel in the tank (no more than once a day); jet fuel for scientific research, testing and industrial production samples; government-provided humanitarian aid.
Kazakhstan has also banned to export light distillates, aviation kerosene, diesel fuel, gasoil, toluene, xylene and bitumen in the period from January 1 to June 30, 2026, beyond the EAEU.
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In Kazakhstan, the area of explored subsoil will be increased to 2.2 million square kilometres
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At the Government session chaired by Prime Minister Olzhas Bektenov, the development and digitalization of the geological sector were discussed. Reports were delivered by the leadership of the Ministries of Industry and Construction, Energy, Artificial Intelligence and Digital Development, as well as the National Geological Service, primeminister.kz reports.
In his Address to the Nation, the Head of State set a key task - to develop geological exploration as the foundation of the country’s industrial framework. To this end, large-scale work is being carried out to expand the studied area of subsurface resources to 2.2 million square kilometers. This goal will be achieved next year," Olzhas Bektenov emphasized.
Kazakhstan has already launched a Unified Subsurface Use Platform, which provides 22 types of public services. The system enables automatic issuance of licenses and subsequent monitoring of subsurface users’ obligations. Currently, around 3.5 million units of primary geological data have been digitized - previously stored in paper archives, magnetic tapes, and photographs.
The Prime Minister instructed the Ministry of Industry, together with the Ministries of Finance, Artificial Intelligence and Digital Development, and the National Geological Service, to complete the digitization of historical geological data by the end of next year. This will simplify access to both historical and new geological information in Kazakhstan and facilitate the implementation of investment, exploration, and field development projects.
Particular attention was given to updating geological maps, which experts note have become outdated and no longer allow for detailed assessment of deposit potential or accurate localization. In this regard, further work is required to increase mapping scale.
An important step will be the creation of a foundation for introducing modern scientific methods in geological exploration. To that end, a state-of-the-art laboratory within a geological cluster will be established in Astana to conduct mineral-geochemical and analytical studies.
The Ministry of Industry, together with the Ministry of Finance and the National Geological Service, was instructed to ensure the start of laboratory construction in 2026.
Following the discussion, Prime Minister Olzhas Bektenov issued several instructions to relevant ministries and agencies:
- The Ministry of Industry must ensure the development of design and estimate documentation for detailed geological mapping of the country’s territory at a scale of 1:50,000 by the end of the current year.
- The Ministry of Industry, jointly with the Ministry of Finance, must begin implementing a project in 2026 to transition to modern mapping methods, making maximum use of advanced technologies and unmanned aerial systems.
- The Ministry of Industry, together with other government bodies, must ensure the integration of spatial data within the Unified Subsurface Use Platform by the end of the first half of 2026. This will allow investors to clearly view opportunities and constraints in the subsurface use sector.
The Prime Minister emphasized that the Government will continue to prioritize the development of the geological sector, increase its funding, and create favorable conditions for attracting investment.
Overall coordination of this work has been assigned to First Deputy Prime Minister Roman Sklyar.
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Kazakhstan’s economy grows 6.4% in 10 months
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Preliminary figures from the National Statistics Bureau showed growth in gross domestic product stood at 6.4% year-over-year in January-October 2025, Kazinform News Agency cites the Kazakh Government.
Commodity production increased at a rate of 8.2%, while the service sector rose by 5.3%.
Kazakhstan’s manufacturing output expanded 7.3% on an annualized basis, contributing over 30% to overall economic growth.
According to figures, industrial production rose 5.8% year-on-year in October, driven by growth in mechanical engineering, chemical and food industries, oil processing, manufacturing of metals, and building materials production.
In the construction sector, the growth was driven by the realization of major infrastructure projects. The volume of work increased 15.1%, up from 14.9% in January-September 2025.
The agricultural sector saw a 5.4% rise in gross output, 1.0% higher compared to January-September.
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A SAF Aviation Fuel Plant to Be Built in Kazakhstan
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Prime Minister Olzhas Bektenov held a meeting with Jimmy Samartzis, Chief Executive Officer of the American company LanzaJet, and Stéphane Tzion, Vice President for Commercial Affairs, to discuss the development of industrial and technological partnerships, primeminister.kz reports.
The sides reviewed prospects for localizing advanced technologies to implement a joint project on the production of sustainable aviation fuel (SAF). In particular, they discussed plans to build a Sustainable Aviation Fuel (SAF) plant in the city of Rudny, Kostanay Region.
LanzaJet is the developer of a technology for producing SAF from ethanol derived from various raw materials, including organic feedstock such as grain, corn, and potatoes. The future plant’s capacity is expected to reach 54,000 tons of aviation fuel and up to 100,000 tons of processed bioethanol per year. The feasibility study (FS) for the plant has already been completed.
The project aims to promote green aviation and deepen processing in the agro-industrial complex. The production of biofuel will also contribute to reducing greenhouse gas emissions, aligning with Kazakhstan’s key climate and energy policy priorities.
President Kassym-Jomart Tokayev has set us the task of creating an international air hub in Kazakhstan. In addition to expanding airport capacities and developing infrastructure, it is essential to ensure the industry is supplied with high-quality, eco-friendly aviation fuel. We are ready to expand cooperation. The Government will provide comprehensive support for this project," Olzhas Bektenov emphasized.
Meeting participants discussed the project’s main directions in detail. The LanzaJet leadership proposed establishing an integrated structure for joint project implementation.
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Kazakhstan and the U.S. Sign $17 Billion Worth of Agreements
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Expressing gratitude to the President of the United States for organizing the historic meeting at the White House, Kassym-Jomart Tokayev noted that the C5+1 Summit marks the beginning of a truly new era of cooperation between Central Asia and the United States, akorda.kz reports.
The Head of State highlighted the role of U.S. President Donald Trump in international politics, describing him as a prominent statesman.
I am convinced that your wise and bold policy needs to be strongly supported worldwide, and I firmly stand on your side. Under your presidency America is ushering in a new Golden Age. I commend your far-sighted vision of Making America Great Again. This inspires me to pursue target-oriented strategy towards building Just and Strong Kazakhstan on the basis of my concept ‘Law and Order’. As ‘President of Peace’, you, Mr. Trump, brought to an end eight wars within eight months, thus you have evidently reinforced America’s role as a pillar of international stability," - the President said.
Kassym-Jomart Tokayev reaffirmed Kazakhstan’s commitment to further strengthening its strategic partnership with the United States.
I highly appreciate your unwavering support to advancing Kazakh-American multifaceted cooperation. As early as in your first term in the White House, our relations have been legally fixed as Enhanced Strategic Partnership. The United States is the largest investor, with over $100 billion dollars in our economy as its perpetuum mobile. Our trade turnover has doubled in recent years and is approaching $5 billion dollars. We cover almost 25 percent of America’s domestic uranium demand. Kazakhstan has become a home-country for 600 American companies," - said the Head of State.
President Tokayev informed that during the current visit, deals worth over $17 billion were signed between companies of the two countries.
Overall, the potential of economic cooperation between Kazakhstan and the United States - spanning such key areas as energy, critical minerals, industry, transport, finance, artificial intelligence, and education - exceeds half a trillion dollars.
The Head of State called on American companies to take advantage of the unique opportunities created in Kazakhstan and assured investors of his personal support.
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Kazakhstan and Belarus reinforce strategic partnership as trade grows 20%
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President of Kazakhstan Kassym-Jomart Tokayev received Prime Minister of Belarus Alexander Turchin, Kazinform News Agency cites Akorda.
The meeting focused on prospects for bilateral trade and economic cooperation, industrial partnership, and cultural and humanitarian engagement.
Welcoming Alexander Turchin, President Kassym-Jomart Tokayev noted that the Prime Minister’s first official visit to Astana underscores the special character of the strategic partnership between Kazakhstan and Belarus and reflects their shared determination to strengthen it further.
I consider this visit very important, given the level and depth of cooperation between our countries. As for trade between Kazakhstan and Belarus, it is successfully developing, reaching between $900 million and $1 billion. As far as I know, Kazakhstan is Belarus’s second-largest trading partner.
Overall, I would like to emphasize our deep respect and warm feelings toward your country, your people, and the unique culture. I would also like to take this opportunity to convey my greetings and best wishes to President Alexander Lukashenko. We are committed to the most constructive and results-oriented engagement, as we are keen to ensure the continued success of our bilateral cooperation," the President emphasized.
Alexander Turchin assured Kassym-Jomart Tokayev of his commitment to maintaining the momentum of mutually beneficial dialogue and coordinating the practical implementation of the tasks set by the heads of state.
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Kazakhstan Harvests Record Grain and Oilseed Crop
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At the Government session dedicated to the results of the harvesting campaign, Prime Minister Olzhas Bektenov noted that, under the instruction of the Head of State, all necessary conditions had been created in Kazakhstan for the timely and high-quality implementation of spring fieldwork and harvesting. The volume of concessional financing, including leasing, was brought to a record level of 1 trillion tenge. Farmers were fully provided with seed material, subsidized fuel, and fertilizers in the required quantities. Thanks to the measures taken and coordinated efforts, a good harvest was achieved, primeminister.kz reports.
According to the Ministry of Agriculture, the current year set records not only for grain crops but also for other highly profitable and in-demand crops, such as legumes and oilseeds. Thus, 27.1 million tons of grain were harvested from 16 million hectares, with an average yield of 17 centners per hectare. Wheat production reached 20.3 million tons, which is 500 thousand tons more than last year. Despite the reduction of wheat sowing areas by nearly 900 thousand hectares as part of diversification, production volumes were not only maintained but also significantly increased, demonstrating the growing application of advanced agricultural technologies.
For the first time in Kazakhstan, the harvest of leguminous crops reached 1 million tons. Harvesting of oilseeds is still ongoing, yet the country has already collected a record 4.3 million tons of oilseeds. Additionally, 2.9 million tons of potatoes, 3.8 million tons of vegetables, and 2.6 million tons of melons have been harvested. With an average yield of nearly 30 centners per hectare, 428 thousand tons of raw cotton were collected-42% higher than the previous year.
I would like to express my gratitude to farmers for their perseverance and conscientious work. As we can see, a good harvest depends not only on favorable conditions and weather but also on strict adherence to agricultural technologies. Only through the proper use of such technologies will we achieve high results, and our products will become more competitive in export markets," Olzhas Bektenov emphasized.
The Prime Minister noted that the main task now is to preserve and effectively market the harvested crops. He stressed the importance of timely drying and storage of grain in elevators. All grain reception facilities must operate continuously to ensure uninterrupted reception and storage of grain. Strict control must be established over compliance with storage conditions.
The Ministry of Transport, together with Kazakhstan Temir Zholy (KTZ), was instructed to ensure uninterrupted transportation of grain and strict adherence to the railcar supply schedule. The phytosanitary service must exercise strict control over grain quality at all stages of storage and sale.
The Ministries of Trade and Agriculture were tasked with taking measures to ensure effective marketing of the harvested products, including expanding export supplies to both traditional and new foreign markets.
Special attention was given to the production of processed agricultural products. Examples include projects on corn processing in the Zhambyl and Turkistan regions, starch production in Astana, and the manufacturing of lysine, gluten, and bioethanol in the Kostanay and Akmola regions.
The Prime Minister emphasized that for the comprehensive development of the agricultural sector, there should be more such projects. It is necessary to focus on attracting investments into similar areas to move away from traditional grain exports and toward the production of high value-added processed goods.
Emphasis was also placed on forming sufficient reserves of food products. Regional akimats were instructed to ensure constant monitoring of reserves in stabilization funds and the timely signing of contracts for the supply of key vegetable products in the required volumes.
During the Government meeting, Olzhas Bektenov gave a number of specific instructions to relevant ministries and regional akimats.
- The Ministry of Agriculture, together with regional akimats, was instructed to ensure that farmers fulfill their obligations to supply wheat to the Food Corporation on time under forward contracts. The formed reserves will later be used to meet domestic needs.
- Preparation for the next sowing season must begin now. Regional akimats are to ensure that at least 2.3 million tons of mineral fertilizers are applied in 2026. The Ministry of Industry and Construction should work in advance with domestic manufacturers to ensure the necessary supply of fertilizers for farmers, while regional akimats should conclude contracts in advance and maintain sufficient fertilizer stocks in warehouses.
- The Ministry of Agriculture, together with the Baiterek holding, has already begun early financing of spring fieldwork and harvesting operations for 2026. In this regard, the Prime Minister instructed to ensure efficient and transparent use of all available financial instruments to maximize coverage of agricultural producers.
Coordination of these efforts has been assigned to Deputy Prime Minister and Minister of National Economy Serik Zhumangarin.
In conclusion, I once again want to express my sincere gratitude to our farmers for the timely and high-quality completion of the agricultural season. We have fully provided ourselves with bread. As the Kazakh proverb says, ‘Bread is the father of all food, and unity is the blessing of the people.’ Thanks to this good harvest, we will also be able to supply bread to many of our foreign partners. I wish all workers of the agro-industrial sector success, prosperity, and further achievements for the benefit of our country!" the Prime Minister summarized.
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Kazakhstan exports 2 million tons of grain
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Between September and October 2025, Kazakhstan exported two million tons of newly harvested grain, Kazinform News Agency has learned from the Ministry of Agriculture.
Compared with 1.8 million tons exported during the same period last year, the latest figures highlight consistent growth in grain exports.
Exports to Uzbekistan increased by 42%, from 738,000 to 1,049,000 tons. Shipments to Kyrgyzstan rose 2.6 times, from 24,000 to 64,000 tons; to Azerbaijan, 3.1 times, from 18,000 to 56,000 tons; to Afghanistan, by 42.5 %, from 73,000 to 104,000 tons; and to Turkmenistan, 2.3 times, from 3,000 to 7,000 tons.
The increase in grain exports underscores Kazakhstan’s strengthening position in international markets and the growing competitiveness of its agricultural products.
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