Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 10 Nov 2022 by Alexander Kudrin

---

Oct 27 President: The President of the European Council Charles Michel and the President of Kazakhstan Kassym-Jomart Tokayev discussed a number of issues during a meeting in Astana and agreed to expand cooperation in the mineral resources sector, the development of a "green" economy and international transport corridors Nov 1 Bureau of National Statistics: CPI in Kazakhstan in October was 1.6 m-o-m or 18.8% y-o-y Nov 2 National Bank: Current account surplus in Jan-Sep reached $7.9 bln (vs deficit in Jan–Sep 2021 amounted $5.6 bln) Ministry of Finance: Assets of the National Fund (Samruk-Kazyna) accounted for KZT28.469 trln as of November 1 (compared to KZT28.016 tln as of January 1, 2022) Nov 3 National bank: The National Bank of Kazakhstan and the international payment systems Visa, MasterCard and UnionPay have signed an agreement on taking joint measures to reduce the maximum rates of interbank commissions for non-cash payments using payment cards. Government: Iran permitted the construction of a Kazakh "dry" terminal in the port of Bandar Abbas on the Persian Gulf coast Nov 4 President: Kazakhstan is committed to a balanced, multidirectional and constructive foreign policy in the current turbulent geopolitical environment President: The Trans-Caspian International Transport Route is becoming increasingly important in the context of ensuring energy and food security Nov 7 President: Capacities for processing agricultural goods for the supply of products abroad should have been created in the Mangystau region (west of Kazakhstan) with the participation of foreign partners Samruk-Kazyna: The fund will offer up to 5% of KMG's shares during IPO, which starts on Nov 9 Nov...