Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 01 Sep 2022 by Alexander Kudrin
Aug 22 CPC: The company has suspended the operation of two of the three remote berthing devices at the marine terminal due to damage Aug 23 Agriculture Ministry: Kazakhstan expects grain harvest in 2022 at the level of 18.3 mln tons (vs 16.4 mln tons in FY 2021) Sberbank: The bank announced that Kazakhstan's state-owned Baiterek purchases Sberbank Kazakhstan Government: According to the Government estimations, Kazakhstan's GDP will grow in 2022 by 3% and by 4% in Fy2023 under the baseline scenario. Government: The volume of guaranteed transfers to the State budget from the National Fund is expected to reach KZT 2.2 trln in 2023 (vs projected KZT4 trln in 2022). Aug 24 World Bank: Kazakhstan received EUR 346 mln loan from the World Bank to increase the competitiveness of the private sector and ensure a sustainable recovery of the national economy after the COVID-19 pandemic QazaqGaz: Azerbaijani SOCAR and JSC QazaqGaz (former KazTransGas) signed a memorandum of understanding, which assumes a wide range of cooperation, including mutual exploration and development of hydrocarbon deposits in Kazakhstan and modernization of the gas transportation infrastructure. Aug 25 KMG: Kazakhstan is negotiating the transportation of oil through Azerbaijan Energy Ministry: CPC remains the most economically viable route for the shipment of Kazakh oil, but alternative routes are being considered against the background of plans to increase oil production Prime-minister: Kazakhstan’s prime – minister Mr. Smailov and Russia’s prime-minister Mr. Mishustin discussed CPC operations Aug 26 Eurasian Economic Union: The member states agreed to expand the usage of national currencies in mutual sett...

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