Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 07 Jul 2022 by Alexander Kudrin

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June 28 Samruk-Kazyna: The state-owned fund plans to conduct IPO of KazMunayGas by the end of the year Ministry of Energy: Kazakhstan Nuclear Power Plants LLP and nuclear technology supplier Korea Hydro & Nuclear Power (KHNP) signed a memorandum of understanding in the field of nuclear energy development June 29 CPC: Company paid R 5,3 bln to Russian budget for damage caused to the Black Sea as a result of an oil spill at the CPC marine terminal in August 2021 President: Kazakhstan offers the Caspian countries to create a food hub said President of the Republic Kassym-Jomart Tokayev June 30 Ministry of Industry: Kazakhstan has completely restored international air transportation up to the pre-pandemic levels July 1 Bureau of National Statistics: Inflation in Kazakhstan in June 2022 reached 14.5% y-o-y (10.5% YTD). It was at 1.6% having accelerated from 1.4% m-o-m in May. Food prices were up in June by 1.9% m-o-m. The same rate of inflation was recorded in the non-food segment, while consumer prices in the services segment were up by a mere 0.8%. Inflation YTD in the food segment reached 15.7% as of July 1. Foreign Ministry: Kazakhstan supports the transformation of relations with the countries of the Eurasian Economic Union and with Western partners (the United States and Great Britain), but at the same time it still considers Russia and China as key allies Ministry of Energy: The Government has supported the terms of restructuring of two bond issues of Nostrum Oil & Finance B.V. totaling $1.125 bln July 4 KAMAZ: Company intends to fulfill all previously investments in the construction of an iron foundry and a plant for the production of main gears of trucks in Kazakhs...