In the second quarter of 2026, Kazakhstani enterprises generally maintained a stable financial position, despite ongoing tax, market and personnel restrictions. Such data is provided by the monitoring of the National Bank of Kazakhstan, which covered 3,507 enterprises in the real sector, Zakon.kz reported.
Businesses named the main obstacles as the tax burden - 37.2%, market competition - 33.9%, finding buyers - 28.1% and lack of qualified personnel - 27%. Another 21.8% of companies reported difficulties in obtaining licenses and permits.
At the same time, 43.6% of enterprises expect to end the year with a profit, and the average return on sales in the second quarter reached 24.6%. Critical financial condition was noted by 27.8% of companies, and among large enterprises this figure is significantly lower - 15.7%.
It is significant that in five years the nature of the problems has changed. If in 2021 the state of the economy was called the main obstacle by 34.1% of enterprises, now this figure has dropped to 18.1%. At the same time, the importance of personnel shortages and administrative barriers has increased.
The sustainability of the corporate sector is of particular importance against the background of the strengthening of the Kazakhstani tenge and the ongoing restructuring of economic conditions. A strong national currency can reduce the cost of imported equipment and certain types of raw materials, but at the same time creates additional challenges for exporters, since their products become relatively more expensive in foreign markets.
Therefore, business sustainability today cannot be assessed only by the dynamics of the tenge exchange rate or macroeconomic indicators. The ability of businesses to remain profitable, invest, increase productivity and create jobs directly impacts a country's tax revenue, employment and economic growth.
Support for small and medium-sized enterprises is especially important, where the share of companies with a critical financial condition is higher. Reducing administrative barriers, training qualified personnel and creating conditions for competition can be key areas for strengthening the business sector.
In general, the survey results show that Kazakh business is gradually moving from fighting large-scale general economic shocks to solving structural problems. This is an important signal for the economy of Kazakhstan: maintaining the sustainability of companies is becoming one of the conditions for long-term stability and growth.
CentralAsianLIGHT.org
August 20, 2026