Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 02 Jun 2023 by Evgeny Gavrilenkov
May 22 KMG: The company may increase dividends for 2022 by 50%, up to $669.2 mln KTZ: The company and one of the world's largest container port terminal operators PSA International (Singapore), launched a joint venture. Both companies will cooperate in the development of the Trans-Caspian route May 23 Indorama: Singapore's Indorama plans to build a $250 mln phosphate fertilizer plant in Kazakhstan May 24 Finance Ministry: Kazakhstan will strengthen control over the export of sanctioned goods to Russia KazTransOil: The company receives applications to increase the transportation of Kazakh oil through the "Druzhba" pipeline to Germany May 25 President: Mr. Tokayev visited Moscow and participated in a meeting of the Supreme Eurasian Economic Council together with leaders of Belarus, Kyrgyzstan, and Russia President: In the current geopolitical situation, taking into account its "geography and capabilities," Kazakhstan is ready to act as a center for the development of Eurasian industrial cooperation and integration, Mr. Tokayev said President: Kazakhstan proposes to launch a freight train route from Chelyabinsk to Iran through the country May 26 NBK: The National Bank of Kazakhstan kept the base rate unchanged at 16.75% NBK: Mr. Pirmatov, the Head of NBK, said the Bank could consider the possibility of a gradual cut of the base rate in 2H23 NBK: The Bank raised the country's GDP growth forecast for FY23 from 3.5-4.5% to 4.2-5.2% and retained the expectations for growth in 2024-2025 (3.5-4.5%) May 29 Ministry of Economy: Investments in fixed capital reached KZT3.8 trln (+18% y-o-y) in Jan-Apr Ministry of Foreign Affairs: of Kazakhstan: Up-to-date, Kazakhstan invited 401 in...

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