Bakhyt Sultanov was born in 1971 in Almaty. In 1988, he graduated from the Republican Physics and Mathematics Boarding School in Almaty, in 1994 — Kazakh National Technical University with a degree in electrical engineering, in 1995 — Kazakh State Academy of Management with a degree in economics.
He began his career in 1994 as a leading economist in the corporation and licensing division of the Financial Market Securities Department at the Ministry of Finance.
From 1995, he has been head of department, then deputy head of department (1996), deputy director of the Budget Department (1997), director of the Department of Public Procurement (1998), deputy director of the Treasury Department (1999), deputy director of the Budget Department (2001), director of the State Budget Department of the Ministry of Finance (2002).
In 2002-2003, he was director of the Department of Budget Policy and Planning of the Ministry of Economy and Budget Planning.
In 2003-2006, he was vice minister of economy and budget planning.
In 2006-2007, he was chairman of the Agency for Statistics.
In 2007, he was vice minister of finance.
In 2007-2010, he was minister of economy and budget planning.
In 2010-2012, he worked as an assistant to the President of the Republic of Kazakhstan.
In 2012-2013, he was deputy head of the Administration of the President of the Republic of Kazakhstan.
2013-2014, he was deputy prime minister – minister of finance, and was reassigned in April 2014.
Since August 2014, he was minister of finance, reassigned to the same post on April 30, 2015.
From Sep. 11, 2018 to June 13, 2019, he was the akim of Astana.