Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 23 Dec 2022 by Alexander Kudrin
Dec 9 Agency for Regulation and Development of the Financial Market: Kazakhstan banks have received permission from OFAC to operate with Russian Mir cards Dec 12 President: Kazakhstan's GDP grew by 2.7% in Jan-Nov Prime-Minister: Kazakhstan wants to attract up to KZT 3.8 trln ($8 bln) of investments in the repair of engineering networks through tariff instruments Prime-Minister: 19 international companies have moved their business to the country from Russia Energy Ministry: Kazakhstan intends to produce 84-85 mln tons of oil in 2022, which is below the plan (85.7 mln tons) due to temporary suspended production at Kashagan field Energy Ministry: Kazakhstan plans to produce over 90 mln tons of oil in 2023 Energy Ministry: Kazakhstan, Russia and Uzbekistan are discussing the technical capabilities of gas transmission systems, there is no question of creating a union President: The amount of problematic consumer loans in Kazakhstan has reached $1 bln Dec 14 Energy Ministry: Kazakh companies discuss oil supplies to the EU, including to Germany to the refinery in Schwedt ADB: The Asian Development Bank (ADB) has maintained the forecast for Kazakhstan's economic growth in 2022 at 3%, in 2023 at 3.7%. Dec 15 Bureau of National Statistics: Cargo turnover in 11M22 grew by 1.8% y-o-y to 548.9 mln ton-kilometers Bureau of National Statistics: Investments in production capacity in 11M22 grew by 6.5% y-o-y and reached KZT 7,4 trln in nominal terms Bureau of National Statistics: Production of raw steel in 11M22 contracted by 7% y-o-y to 3.9 mln tons Bureau of National Statistics: Agricultural production reached KZT 8.8 trln in 11M22 (8.5% y-o-y) Bureau of National Statistics: Oil pro...

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