Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 27 Jan 2023 by Alexander Kudrin

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Jan 6 The Civil Aviation Committee: Kazakhstan has extended the "open skies" regime for foreign airlines until 2028 Energy Ministry: Kazakhstan, Kyrgyzstan, and Uzbekistan have agreed on the conditions for the construction of the Kambarata HPP-1 with a capacity of 1860 MW will generate 5 bln kW-H of electricity per year Jan 9 Government: Kazakhstan wants to denounce the agreement with the Russian Federation on the mutual convertibility of currencies that has lost its relevance. The government plans to denounce similar agreements with Mongolia, Kyrgyzstan, and Belarus. Jan 10 Russian Government: Kazakhstan is interested in cooperation with the Russian Federation in the expansion of gas transportation systems, gasification, and transit to third countries Jan 11 The Constitutional Court: The Court adopted a resolution declaring the law "On the First President of the Republic of Kazakhstan - Elbasy" invalid Ministry of Economy: Kazakhstan's GDP grew by 3.1% y-o-y in FY22 Energy Ministry: Kazakhstan expects that the first batch of Kazakh oil (20K tons) will be delivered to Germany in January Prime minister: The goal of the Kazakh authorities in 2023 should be to slow down the inflation rate to 9.5% (vs 20.3% in FY22) Bureau of National Statistics: Oil production in FY22 contracted by 1.2% y-o-y to 53 mln tons, while natural gas extraction grew by 3.5% y-o-y to 16.5 bcm Energy Ministry: Kazakhstan has received the approval of the Russian Federation for the transportation of its oil through the Druzhba pipeline to Germany NBK: Kazakhstan's international reserves increased by 1.2% to $90.8 bln in 2022 Prime minister: Kazakhstan, together with Russia’s Rosatom, is implementing ...