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Kazakhstan’s Ministry of National Economy reported that the government failed to meet its 2024 national budget goals, particularly in reducing the non-oil deficit, which excludes revenues from the oil and gas sector. The ministry attributed the shortfall to unexpectedly high revenues from the oil export duty.

The government’s long-term fiscal strategy, outlined in its public finance management concept through 2030, targets a reduction of the non-oil deficit to 5% of GDP by the end of the decade. A milestone of 7.9% of GDP had been set for 2024, but the actual figure came in slightly higher, at 8% or roughly...

France and Kazakhstan have been implementing 10 joint projects with a total value of $1.1 billion, creating 2,000 new jobs. Six of these projects, worth $900 million, are already complete, according to Yersaiyn Nagaspayev, Kazakhstan’s minister of industry and construction, who spoke at the Kazakhstan-France business forum in Astana.

Counting already implemented projects, the minister mentioned Alstom’s locomotive production facility in Astana ($392 million); Schneider Electric’s pressure sensor production in the Atyrau region ($6.3 million); Vicat’s cement plant in the Zhambyl region ($467 million); Air Liquide’s compressed air and nitrogen facility in the Atyrau region ($16 million); Saint-Gobain’s building materials...

Minister of Industry and Construction of Kazakhstan Yersain Nagaspayev has offered French companies the opportunity to purchase critical minerals from Kazakhstan. The official made this proposal during the Kazakh-French business forum in Astana today.

«We already can supply 21 types of critical materials from the EU’s list of 34. Moreover, in the medium term, we can ensure supplies of the remaining 13 types. Kazakhstan is ready to serve as a reliable supplier of critical raw materials and to enter into offtake contracts [with producers] in exchange for stable supply commitments,» Nagaspayev said.

The minister also noted that Kazakhstan already has...

Kazakhstan will open a cultural center in Beijing, according to a decree recently signed by Prime Minister Olzhas Bektenov.

The plan to establish the center was first revealed last year when Kazakhstan’s Senate, the upper house of parliament, ratified agreements signed in 2023 with China to open cultural centers in both countries.

Kazakhstan’s Ministry of Culture and Information will oversee the new institution.

The center will feature a multifunctional hall for events and film concerts, a library, exhibition and multimedia spaces, and a dedicated tourism corner.

The Kazakh Cultural Center in Beijing will employ 13 people, three from Kazakhstan and...

Almaty and Astana have been recognized as the top cities in Central Asia, according to the 2025 Global Cities Index by Oxford Economics. On the global scale, the Kazakhstani metropolises outperformed Moscow. Meanwhile, New York was ranked number one in the world.

Specialists at Oxford Economics annually assess the world’s 1,000 largest cities using five criteria: economy, human capital, environment, governance and quality of life. Although the authors of the index admitted that evaluating cities’ challenges and prospects can be a complicated task due to structural differences of urban areas across regions, they maintain that the Global Cities Index...

On May 29, a new international tourist train will depart from Xi’an, China, to Almaty, Kazakhstan, arriving on May 31, according to Kazakhstan’s Tourism Industry Committee.

More than 250 passengers are expected on the inaugural journey, including not only tourists but also civil servants, researchers, physicians, athletes and Vice Mayor of Xi’an Xiao Qi. The group will stay in Almaty for five days, with the return trip scheduled for June 5.

A full itinerary has been prepared for the visitors, including attendance at the opening ceremony of Shaanxi-Almaty Week, participation in conferences and business meetings, and guided tours of Almaty’s...

Freedom Holding Corp. has taken first place among financial companies in the ranking of the most attractive employers in Kazakhstan, compiled by the recruiting company Ancor. The study covered 50 of the country’s largest companies.

First place across all sectors was taken by Tengizchevroil, the operator of the Tengiz oil field in the West Kazakhstan region. Almost 70% of the 1,700 respondents named TCO as attractive in terms of employment, while 35.14% said it is recognizable. Karachaganak Petroleum Operating (operator of the Karachaganak field), Kazatomprom, KazMunaiGas and ERG rounded out the top five employers.

Freedom Holding Corp. (FRHC) ranked 15th...

Kazakhstan and Uzbekistan have agreed to establish an international academic hub for diagnosing and treating childhood cancers. This announcement was made at a conference on child health in Central Asia held in Tashkent, according to the Ministry of Healthcare of Kazakhstan.

Kazakhstan’s Minister of Healthcare Akmaral Alnazarova held talks with her Uzbek counterpart Asilbek Khudayarov on developing joint healthcare projects, sharing expertise and improving the quality of treatment. Among the key topics discussed was the environmental impact on human health, particularly in the area surrounding the Aral Sea.

Kazakhstan proposed taking the lead in establishing a hub that will serve...

Ticketon.kz has released ticket prices for Jennifer Lopez’s Aug. 10, 2025, concert at Central Stadium in Almaty.

The most expensive seats, located in the VIP zone directly in front of the stage, are priced at 180,000 tenge (about $350). Seats in rows closest to the stage are slightly cheaper, at roughly $312. Fan zone and side-section seats are priced around $235, while dance floor tickets cost approximately $175. In more distant sections, prices range from $78 to $156.

Ticket sales opened at 10 a.m. local time on May 28 through Ticketon.kz.

To accommodate the concert, the Kairat football club...

Maten Petroleum, an oil-producing company, reported that its net income in 2024 decreased to 12.1 billion tenge (approximately $23.6 million). This marks a 3.1-fold decrease, as the figure stood at 38 billion tenge ($74.2 million) in 2023. Notably, this is the second consecutive year the oil producer has seen a drop in net income, as Maten Petroleum earned 43.05 billion tenge ($84.1 million) in 2022.

The company’s revenue stood at 127.37 billion tenge ($248.6 million) in 2024, down from 162.52 billion tenge ($317.2 million) in 2023. Meanwhile, Maten’s general and administrative expenses in 2024 reached 17.5 billion tenge ($34.2 million...

Kursiv.media compared five-night stays at Rixos resort hotels in Egypt, Turkey and Kazakhstan, finding that Rixos Water World Aktau is, on average, 36% cheaper than similar Rixos hotels in Turkey and 20% cheaper than those in Egypt.

The comparison was based on bookings for two adults from Aug. 1 to 6, 2025, in a standard room with a king-size bed, garden or mountain view, and all-inclusive meals.

Kazakhstan

Rixos Water World Aktau
Located 48 kilometers from Aktau Airport, this resort features a water park, swimming pool, fitness center, spa, hammam steam room, tennis courts and a kids’ club. Guests can...

Asia is increasingly emerging as a key force in the global economy and political landscape. The meeting of the Experts Club under the Senate focused on the prospects of the «Asian Century» and the role of middle powers amid the ongoing global crisis.

The event was attended by Senate Speaker Maulen Ashimbayev, Professor Kishore Mahbubani — a renowned Singaporean diplomat — and Timur Turlov, a Kazakhstani businessman and CEO of Freedom Holding Corp.

«This meeting takes place against the backdrop of a global security crisis and rising geopolitical tensions. Previous models of cooperation have become outdated...

In the first quarter of 2025, Kazakhstan’s oil exports dropped more than 20%, driving a 12% decline year-on-year in the country’s total exports. Copper cathode exports also fell 15%. As a result, Kazakhstan’s exports to its three main markets — the European Union, China and Russia — have declined.

Kazakhstan’s oil exports

Kazakhstan’s top 10 export items, excluding oil

Kazakhstan’s top 10 fast-growing export items

Kazakhstan’s major export destinations

Kazakhstan’s oil exports

In the first quarter (Q1) of 2025, Kazakhstan’s total exports fell by $2.2 billion to $16.4 billion, an 11.9% decrease year-on-year (YoY). The...

According to the latest pension index, published annually by the prominent insurance company Allianz, Kazakhstan was ranked 26th out of 71 countries, with a grade of 3.5. This marks a significant improvement since 2023, as the country climbed eight positions. This year, Kazakhstan outperformed Slovakia, Indonesia, Cyprus, Malta, Austria, Singapore and China, but fell behind Greece, South Korea and Finland. The top three leaders are Denmark, the Netherlands and Sweden.

The index’s authors considered several parameters divided into three sub-indexes: starting points, sustainability and adequacy. Adequacy refers to the ability of pension benefits to cover basic human needs, the...

According to Yersain Nagaspayev, Kazakhstan’s minister of industry and construction, the new PepsiCo plant will be located in a special economic zone offering tax benefits.

When asked about state support for the chip plant, which PepsiCo plans to build in the Almaty region, the minister said the launch of such a large investment project is a positive development for the country.

«The goal of investment projects is to ensure that capable and reputable companies enter Kazakhstan’s market. The PepsiCo project is being managed by the Ministry of Agriculture. On our side, I’d like to note that...

According to Kazakhstan’s Nuclear Energy Agency, Kazakhstan is ready to cooperate with China regarding the country’s first nuclear power plant (NPP) construction.

«Almassadam Satkaliyev, chair of Kazakhstan’s Nuclear Energy Agency, held talks with Dong Baotong, China’s vice minister of ecology and environment and head of the National Nuclear Safety Administration… The sides emphasized possible cooperation in NPP project implementation, development of the nuclear fuel cycle and enhancement of scientific and technical infrastructure. The Kazakh side expressed its interest in studying Chinese expertise in nuclear, water and environmental safety across all stages of NPP implementation,» the agency...

A Nordwind Airlines plane made an emergency landing in Aktobe after a passenger died on board.

The flight was en route from Yekaterinburg to Sochi when one of the passengers became ill. The cause of death remains unknown.

According to Dastan Maliyev, head of Aktobe International Airport named after Aliya Moldagulova JSC, the aircraft will resume its flight once arrangements are made to transport the deceased passenger’s body.

«The passengers were not allowed off the plane — everyone is still inside,» Maliyev said.

Nordwind Airlines is a Russian carrier founded in 2008.

In...

On May 26, 2025, the long-awaited fan meeting of Dimash Kudaibergen, titled D&Dears, took place at Almaty Arena. The venue accommodated about 8,000 spectators and was completely packed, with not a single empty seat in the hall. Kursiv LifeStyle shares its impressions of the event.

Fans from around the world attended the concert — from the U.S., Spain, Chile, Russia, France and dozens of other countries — united by one thing: to see and hear their favorite singer.

One of the most touching moments of the evening came when Dimash made a phone call from the stage to legendary Kazakh...

David Brown, a British citizen, has rejoined the board of directors of Bereke Bank, which he left at the beginning of the year, according to a statement from the Kazakhstan Stock Exchange (KASE) available on its website. The governing body of the credit institution, which was sold to the Qatari Lesha Bank last year, consists of four members.

Brown first joined the board of directors of Bereke Bank in December 2024, shortly after the sale of the credit institution from state-owned Baiterek Holding to Lesha Bank, an investment bank based in Qatar. However, in April, he was removed from the...

According to the Ministry of Economy of Kazakhstan, the government will allocate 8 trillion tenge (around $15.7 billion) for the development of the real economy. These funds will be used to launch and develop new enterprises in the mining and chemical industries, with the state-owned Baiterek National Managing Holding JSC designated as the operator of the project.

The bulk of the investment will be provided through the Development Bank of Kazakhstan (DBK), which is part of the Baiterek holding. In 2025, DBK plans to approve transport projects worth 500 billion tenge ($982 million). These funds will be used to finance...

The OpenAI company, the creator of the ChatGPT chatbot, has been officially registered as a VAT payer in Kazakhstan, according to the State Revenue Committee (SRC) of the Ministry of Finance of the Republic of Kazakhstan.

As the SRC noted, it is actively working to ensure transparency and fair taxation in the digital economy.

«From now on, ChatGPT will pay VAT for services provided to individuals in Kazakhstan following local tax legislation,» the agency said in a statement.

Since 2022, the country has been successfully implementing a tax on digital services, known as the «Google...

According to the Tourism Industry Committee under the Ministry of Tourism and Sports of Kazakhstan, the Almaty Mountain Cluster (AMC) is expected to become the largest year-round tourism project in Central Asia by 2029.

On May 23, Prime Minister Olzhas Bektenov was shown the project development plan. He also took a helicopter tour of the AMC, accompanied by business representatives.

Among the presenters of the AMC development plan were:

KazMunayGas (KMG), Kazakhstan’s national oil company, sold a 60% stake in its subsidiary Polymer Production to Russia’s Sibur Holding for 1.18 billion tenge ($2.3 million), according to the company’s Q1 2025 report. The deal was arranged on March 17.

Polymer Production is the first major enterprise in Kazakhstan and Central Asia specializing in the production of polypropylene bags and film. It has been operating in the Atyrau region since 2012.

Until December 2023, Polymer Production was controlled by Samruk-Kazyna Ondeu, a subsidiary of the Samruk-Kazyna holding and the managing company of the SEZ Chemical Park Taraz. The 100% stake in...

According to the latest report from Kazakhstan’s National Bank, the deposit volume increased by 2% in April, reaching 41.3 trillion tenge (approximately $81 billion) in the country. The upward trend was observed in deposits denominated in both national and foreign currencies.

Despite the base rate remaining unchanged in April at 16.5%, following a 1.25 percentage point (p.p.) increase in March, the deposit volume rose by 833 billion tenge (approximately $1.6 billion) to 41.3 trillion tenge (around $81 billion) over the month, setting a new record in nominal terms (inflation excluded). The previous record was set in...