Bi-weekly Economic News Summary

KAZAKHSTAN - In Brief 30 Sep 2022 by Alexander Kudrin

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Sep 15 Bureau of National Statistics: Kazakhstan’s industrial production grew by 2.5% y-o-y in 8M22 Sep 16 Parliament: The Parliament of Kazakhstan unanimously adopted amendments to the Constitution on a one-time 7-year presidency and renaming of the capital Bureau of National Statistics: Agricultural production reached KZT3.6 trln in 7M22 (+4.3% y-o-y in real terms) Bureau of National Statistics: Investments in production capacity in 8M22 grew by 5.7% y-o-y and reached KZT6.2 trln in nominal terms Bureau of National Statistics: Kazakhstan’s foreign trade balance reached $23.6 bln in 7M22 (grew by a factor of 2.3 y-o-y) Bureau of National Statistics: Oil production in 8M22 contracted by 0.6% y-o-y to 47.6 mln tons, while natural gas extraction grew by7.4% y-o-y to 15.7 bcm Bureau of National Statistics: Cargo turnover in 8M22 grew by 3.5 % y-o-y to 393.05 mln ton-kilometers Energy Ministry: Kazakhstan expects to fulfill the oil production plan for 2022, which was set at 85.7 mln tons Energy Ministry: Damaged remote mooring units of the Caspian Pipeline Consortium will be returned to work in October Sep 17 President: The President of Kazakhstan signed amendments to the Constitution on a one-time seven-year presidency and renamed the capital of the republic Sep 19 Ministry of Agriculture: Kazakhstan increased grain exports by 12.4%, to 9.1 mln tons in Jul 2021- Jun 2022 Fitch: The international rating agency Fitch has affirmed the default rating of NC KMG at “BBB-“ with a “stable” outlook. Sep 20 President: Mr. Tokayev discussed with Senior VP of ExxonMobil Mr. Chapman the implementation of projects in the hydrocarbon sector of the republic NC KMG: The company has exerci...