Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 23 Feb 2023 by Alexander Kudrin
Feb 10 NBK: Easing monetary policy in Kazakhstan in the current conditions is impractical said NBK Chairman Mr. Pirmatov Kazakhstan Temir Zholy (KTZ): The company and the Arab Abu Dhabi Ports Group discussed the creation of trade hubs in the Kazakh cities of Astana, Alma-Ata and Aktobe Feb 13 KMG: The company and Shell Kazakhstan signed a memorandum of understanding on the development of Kazakhstan's oil and gas industry Feb 14 Ministry of Economy: Kazakhstan's GDP grew by 5.6% y-o-y in Jan'23 NBK: Deputy Chairman of the NBK Mr. Sholpankulov said the inflationary risks require maintaining the base rate at the current level NBK: Kazakhstan's international reserves, including the gross reserves of the National Bank and the funds of the National Fund, reached $94.3 bn as of end of Jan'23 (+3.9% y-o-y) Feb 16 EBRD: The bank confirmed the forecast of Kazakhstan's GDP growth for 2023 at 3.5% and at 4% in 2024 Agriculture Ministry: The volume of agricultural production in Kazakhstan in Jan'23 increased in cash terms by 3.3% y-o-y to KZT241 bn Bureau of National Statistics: Investments in fixed assets in Kazakhstan in Jan'23 reached KZT 755.1 bn (+18.3% y-o-y) Feb 17 Bureau of National Statistics: Kazakhstan's international trade surplus in FY22 amounted to $34.4 bn (1.8 times higher than in FY21) Bureau of National Statistics: Production of raw steel in Jan'23 contracted by 11.3% y-o-y to 321.5K tons Energy Ministry: Kazakhstan produced 2 bcm of gas (-4,9% y-o-y) and 6.9 mln tons of oil (+2.4% y-o-y) in Jan'23 Feb 21 KazTransOil: The company didn't start oil transit from the Caspian port of Aktau to Baku in February (with further transportation via the Baku-Tbilisi-Ceyhan oil...

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