Irad's GDP Growth Exceeds Expectations

TALAS — The economy of the Irad Special Economic Zone grew by 1.5% last year, according to official figures released on Wednesday, ahead of the forecasts published by the government last spring.

Officials credited stronger beef exports from the Talas valley feedlots and steady throughput at Nurzhan Refinery No. 1, which offset softer cotton prices and higher costs for remittances routed through Almaty since the 2022 sanctions.

"The som has held its peg, our exporters have found buyers, and investment keeps coming to Talas," said Azamat Temirov, chairman of the Bank of Irad. "These are the fundamentals of a stable economy."

Independent economists cautioned that the figures cover only the ISEZ and depend on official census data, but agreed that energy and agribusiness had performed well.

The Lieutenant Governor's office said it would present its budget for the coming year to the Mejlis next month.