Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 23 Jul 2025 by Evgeny Gavrilenkov
Jul 9 National Railway Company: Kazakhstan and China have signed an agreement on comprehensive strategic cooperation, including the development of the Trans-Caspian International Transport Route. Energy Ministry: Kazakhstan plans to maintain oil production at the current level for the rest of the year. National Holding Baiterek: The Kazakh state holding has raised CNY500 mln from the Chinese ICBC to finance the manufacturing sector. Energy Ministry: Astana supports the idea of building a gas pipeline from Russia through Kazakhstan to China. Jul 10 National pipeline company: The volume of Kazakh oil transportation to Germany via the Druzhba pipeline amounted to 160K tons in June, which is 1.4 times below May’s volume. President: Kazakhstan expects to reach a compromise with the US on the imposed import duties. NBK: Kazakhstan's international reserves increased in June by 0.3% m-o-m (7.4% YTD). Eurasian Fund for Stabilization and Development: The fund forecasts Kazakhstan's GDP growth in 2025 at 5%, and inflation up to 10.9%. OPEC+: Kazakhstan will consult with the OPEC+ to reach an agreement on the implementation of its obligations. Jul 11 NBK: The Bank kept the base rate at 16.5%. NBK: The Bank of Kazakhstan may invest a small part of its gold reserves and the National Fund's assets in cryptocurrencies. NBK: The Bank will maintain its inflation target of 5%, despite the pro-inflationary risks. KMG: Kazakhstan has determined the volume of oil to test the supply to Hungary. State Statistics Committee of Azerbaijan: In 1H25, the volume of oil transportation via the Baku-Tbilisi-Ceyhan pipeline decreased by 3.8% y-o-y. Jul 14 S&P: In June, Kazakhstan exceeded the OPEC+ quo...

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