Astana, 19 October. Fixed capital investment in Kazakhstan in January–September 2026 amounted to 16,081.4 billion tenge, up 7% on the same period last year in comparable prices, the Bureau of National Statistics said (Dashimbayev).
Fixed capital investment means spending on assets that work for years: buildings, structures, machinery and equipment. Two thirds of the money, 10,587.3 billion tenge or 65.8%, came from companies' own funds; budget money accounted for 14.3% and fell by 32% over the year, and banks for 5.6%. Industry received the largest share, 40.1% (Dashimbayev).
Investment grew fastest in Ulytau region (+88.2%), Zhambyl region (+37.1%) and Turkestan region (+20.1%) and fell in Zhetysu region (−26.8%) and Karaganda region (−4.6%) (Dashimbayev).
Tengenomika points to a change in funding sources: direct budget investment fell from 3.2 trillion to 2.3 trillion tenge and its share from 23% to 14%, while "other borrowed funds" rose by 882 billion tenge, also to 2.3 trillion. In the channel's view, the matching amounts do not yet prove a direct shift of money; part of the decline in budget investment is explained by the end of the Comfortable School programme, after which investment in education fell from 949 billion to 343 billion tenge (Tengenomika).
Background: Growth is slowing: a year ago investment was rising by 13.5%, and in September 2026 alone it grew by only 0.7% (Tengenomika).
List of sources used: Dashimbayev, Tengenomika
Artificial intelligence was used in preparing this material.
