Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 05 May 2023 by Evgeny Gavrilenkov
Apr 21 KTZ: The company, the Russian Railways Logistics, and the Transport and Logistics Center of Turkmenistan signed a memorandum on the establishment of a JV for the development of the North-South corridor Samruk-Energo: The shortage of electric power in Kazakhstan by 2029 will reach 3 GW Apr 22 KMG: The company has started shipping oil from the Ceyhan oil field to Romania Apr 24 Czech Prime Minister: The country expects to increase imports of Kazakh oil to the country. DBK: Czech Insurance Company EGAP is ready to provide insurance coverage up to EUR150 mln for transactions within the trade and investment cooperation framework with Kazakhstan. Apr 25 World Bank: The WB has maintained the forecast of Kazakhstan's economic growth at 3.5% in 2023 and 4% in 2024 US Treasury: The risks of applying secondary sanctions against Kazakhstani companies and banks that help Russia evade Western sanctions are growing Apr 26 S&P: The agency upgraded the rating of QazaqGaz from BB to BB+. The outlook is "stable" Agency for Regulation and Development of the Financial Market: Kazakhstan is taking all necessary measures to comply with international sanctions KazTransOil: the company increased oil transportation by 6% y-o-y in 1Q23 to 10.3 mln tons KASE: The exchange introduces a requirement for segregation (forced separation) of accounts of the citizens of the Russian Federation and Belarus from the accounts of other clients upon the request of international organizations Government: Kazakhstan to supply fertilizers and food worth $60 mln to Iran Apr 27 Media: Hyundai plans to sell a plant in Russia to a Kazakh company Apr 28 KMG: The company has repaid ahead of schedule its Eurobond...

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