Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 22 Jan 2025 by Evgeny Gavrilenkov
Jan 10 UN: The organization expected Kazakhstan's GDP to grow by 4% in 2024, it expects 4.8% annual growth in 2025-2026. National railways: The cargo turnover of the national railway carrier (Kazakhstan Temir Zholy) grew by 1.1% y-o-y in 2024. Jan 14 NBK: Kazakhstan's international reserves decreased by 0.5% m-o-m in December, but increased by 9% in 2024, as a whole. CPC: The company reduced oil shipments by 0.7% y-o-y in 2024. Belarus: The country plans to increase exports to Kazakhstan by 20-25% in the years to come. Agency for Regulation and Development of the Financial Market: Kazakhstan has limited the validity period of banking cards to 12 months for non-residents. Kazakhtelecom: The company completes the sale of its subsidiary Mobile Telecom Service to the Qatari investor, the amount of the deal is $1.1 bln. Jan 15 Energy ministry: Repairs at the Tengiz oil field have been completed (full capacity expected on January 18). US Energy Information Administration: Forecast for the production of liquid hydrocarbons in Kazakhstan for 2025 was lowered from 1.94 bpd to 1.89 bpd. Kazakhstan Stock Exchange: In 2024, trading volume decreased by 5.3% Eurasian Intergovernmental Council: The heads of the governments of the member countries will gather on January 30-31 in Alma Ata. Energy Ministry: Kazakhstan intends to compensate for oil overproduction under the OPEC+ deal by mid-2026, not by the end of 2025. Jan 16 Ministry of Transport: Freight transportation by rail between Kazakhstan and China increased by 13% in 2024%. Jan 17 NBK: The Bank kept the base rate at 15.25%. Fitch: The agency confirms Kazatomprom's rating at BBB with a stable outlook. World Bank: The WB has mai...

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