Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 27 Dec 2023 by Evgeny Gavrilenkov
Dec 14 Eurasian Development Bank: The Bank updated its 2023 GDP growth forecast from 4.3% to 4.8%. The Bank also lifted the 2024 growth figure (from 4.4% to 5%). Dec 15 Government: Kazakhstan doesn't want to agree with a tariff increase (by 43.4%) for pumping its oil to Germany through Russia/Belarus. The current tariff from the Kazakhstan/Russian border to Belarus/Poland is R1583,7 per ton ($17.66/ton). Currently, Russia takes R1127.77 per ton, and the tariff adds R455.94 per ton on the Belorussian territory. Energy Ministry: Kazakhstan and Russia agreed on transporting Kazakh oil to Germany in 2024 up to 1.2 mln tons via the Druzhba oil pipeline. Dec 19 Moody's: The agency has confirmed KazMunayGas' Baa2 rating and changed its outlook to "positive." Ministry of Transport: Kazakhstan is negotiating with international investors for the handover of its three airports in the cities of Aktobe, Turkestan, and Kyzylorda to their management Ministry of Transport: Kazakhstan estimates that in 2023, passenger air traffic could have increased by 20% y-o-y Dec 20 President: Kazakhstan has completed the ratification of amendments to the agreement with the Russian Federation on the supply of oil and petroleum products Former President: The first president of Kazakhstan, Nursultan Nazarbayev, had a private visit to Moscow and had a meeting with the Russian President Vladimir Putin Dec 21 Kazakhstan Railways: The construction of a new railway line has begun in the Abai region (in the east of Kazakhstan). The route will increase the capacity of the railway network between Kazakhstan and China by 70% Samruk-Kazyna: The Kazakh state fund Samruk-Kazyna will pay KZT238 bln of dividends f...

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