Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 13 Jul 2023 by Evgeny Gavrilenkov

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Jun 30 KazTransOil: The company increases oil supplies from Kazakhstan to Germany through Russia's Transneft pipeline. Since the beginning of the year it exported 290K tons Poll: Analysts expected Kazakhstan's GDP to grow by 4.2-4.8% y-o-y in 1H23 Jul 3 Russia: Mr. Abayev, previously Deputy Secretary of the CIS, was appointed the Ambassador of Kazakhstan to the Russian Federation Bureau of National Statistics: Inflation in Kazakhstan in June was 0.5% m-o-m, 14.6 y-o-y Bureau of National Statistics: Industrial production in Kazakhstan in 2022 increased by 1.2% y-o-y (slightly higher than was reported initially) Refinery: Atyrau refinery of KazMunayGas stopped working due to an emergency power outage Energy Ministry: Oil production has been suspended on several fields in Atyrau and Mangistau regions as a result of a power outage due to an accident at the Mangistau Nuclear Power Plant (MAEK). The authorities hope to restore oil production within a month Jul 4 President: Mr. Tokayev suggested to the countries of the Shanghai Cooperation Organization (SCO) to coordinate energy strategy and to hold energy forum next year in Astana President: Mr. Tokayev proposes to create a joint investment fund of the SCO Khalyk-bank: The bank intends to issue the first bond in Astana International Financial Center worth $500 mln Jul 5 KazTransOil: The company increased oil exports from the Tengiz field in via Baku-Tbilisi-Ceyhan (BTC) oil pipeline to 347.1K tons in 2Q23 KazTransOil: The company shipped 37.9K tons of Russian oil for transit through Kazakhstan to Uzbekistan in 2Q23 NBK: The National Bank decided to keep the base rate unchanged at 16.75% NBK: The Bank has decided to adjust th...