BI-Weekly Economic News Summary

KAZAKHSTAN - In Brief 26 Dec 2024 by Evgeny Gavrilenkov
Dec 11 National Welfare Fund: Samruk-Kazyna intends to postpone the IPO of the national gas company QazaqGaz (initially planned for 2025) to create more attractive conditions for investors. Agriculture production: The US Department of Agriculture has maintained its forecast for Kazakh wheat exports this agricultural year at 10 mln tons. National railway company: If market conditions are favorable, an IPO of KTZ is possible in 2025. The offer could vary from 10% to 25% of capital. Fitch: The agency has confirmed KTZ's rating at "BBB-", with a stable outlook Asian Development Bank: The bank maintains Kazakhstan's GDP growth forecast for 2024 at 3.6% y-o-y and for 2025 at 5.1% y-o-y. Dec 12 Parliament: Kazakhstan's parliament approved loan agreements with several international financial institutions totaling JPY 190 bln (about $1.25 bln). S&P: The agency raises ratings of Freedom Bank Kazakhstan from "B" to "B+". Energy Ministry: The authorities discussed the participation of the Chinese CNNC in the nuclear power plant construction project. S&P: The agency upgraded ratings of Halyk Bank from “BB+” to “BBB-”, Bank CenterCredit from “BB-” to “BB”, Freedom Bank from "B" to "B+" and Nurbank from ”B-“ to “B”, and confirmed rating of Kaspi Bank at ”BB+”. Dec 14 Ex-President: The first President of Kazakhstan, Mr. Nazarbayev, met the Russian President Mr. Putin in Moscow. Dec 18 Cargo transportation: The volume of cargo transportation along the Trans-Caspian International Transport Route grew in 11M24 (by a factor of 1.6) and reached 4.1 mln tons. Prime Minister: Kazakhstan's GDP grew by 4.4% y-o-y in 11M24. Energy Ministry: By the end of 2024, oil production in Kazakhstan will ...

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2025 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.