Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 08 Feb 2024 by Evgeny Gavrilenkov
Jan 25 Oil transit: Belarus has raised tariffs for oil transit from Kazakhstan to Europe by 38%, from Russia - by 10.2% National Railways: Freight transportation by rail between Kazakhstan and China increased by 22% in 2023 to 28 mln tons Government: Kazakhstan plans to double production of agricultural products by 2028 Jan 26 National pipeline company: KazTransOil will keep the cost of transit of Russian oil to China unchanged until 2034 Jan 29 EU: European and international financial institutions will allocate EUR 10 bln euros for the development of transport links in Central Asia Development Bank of Kazakhstan: The bank and the European Investment Bank have signed a memorandum of understanding, offering a possibility of financing of EUR320 mln Jan 30 Ministry of Transport: Kazakhstan is considering the possibility of transferring the Caspian ports of Aktau and Kuryk to trust management Ministry of Transport: Kazakhstan plans to attract EUR 40 bln in the next five years to implement major infrastructure projects in the transport sector NBK: In 2023, money transfers from Russia to Kazakhstan dropped by a factor of three from KZT357 bln to KZT108 bln IMF: The Fund has lowered the forecast of GDP growth in Kazakhstan for 2024 to 3.1% from 4.2% Development Bank of Kazakhstan: The bank intends to invest $21 bln in the country's economy over the next ten years Jan 31 Privatization: State-owned Kazakhtelecom plans to sell its subsidiary Mobile Telecom Service in 2024 Feb 1 Nuclear industry: Uranium production by Kazatomprom production decreased by 1% in 2023. National Railways: In 2023, the company received a net profit of KZT 154 bln, which is an increase by a factor of fo...

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