Kazakhstan's GDP Grows While Real Incomes Decline, Raising Concerns

Despite Kazakhstan's GDP growing by 6.5% in 2025 and nominal wages reaching record highs, real household incomes have fallen by 0.7%, with a 2.3% drop in Q4. The National Bank attributes this to inflation and rising mandatory expenses, increasing reliance on credit. Real average wages are only 11% higher than in 2021.

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