KAZAKHSTAN
Analyst
Evgeny Gavrilenkov
Former Investment Bank Chief EconomistRecent Country Insights
Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 17 Apr 2024
Apr 4 Sinopec: The Chinese company Sinopec has officially become a co-founder of Silleno LLP, which is involved in the construction of a polyethylene plant in Kazakhstan. Apr 6 President: Mr. Tokayev described the current floods as the biggest disaster in the past 80 years, both in terms of scale...
Economy grows steadily in March, albeit with some moderation
KAZAKHSTAN · In Brief · 17 Apr 2024
According to the Bureau of National Statistics, the short-term indicator (a sort of a monthly proxy for GDP) grew y-o-y by 4.7% and 4.1% in 1Q24 and March. General trends remained the same, i.e., economic growth remained uneven by sectors. Industrial output increased over the same time frames by ...
Kazakhstan macro: a new economic agenda for a new government
KAZAKHSTAN · Report · 10 Apr 2024
In early February, Kazakhstan’s President Tokayev accepted the resignation of the government headed by Mr. Smailov, who had been in charge of the cabinet of ministers since January 2022. The position was handed over to Mr. Bektenov, who had served as the head of the presidential administration si...
Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 04 Apr 2024
Mar 20 National Financial Regulator: The watchdog will conduct an asset quality review of the 11 biggest banks in Kazakhstan this year. Mar 21 Government: Kazakhstan and Qatar signed an agreement for long-term strategic cooperation to develop projects in priority sectors (the estimated amount is ...
Kazakhstan: no change in macro trends in 2M24; puzzles remain
KAZAKHSTAN · Report · 28 Mar 2024
Recently, the Bureau of National Statistics, the Ministry of Finance, and the National Bank of Kazakhstan published a new set of monthly macroeconomic statistics, and the major takeaway is that the country’s economic trends haven't changed much. Last week, we published a report that presented a b...
Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 20 Mar 2024
Mar 7 Government: Kazakhstan will strengthen monitoring of international transactions for transfer pricing. President: Kazakhstan and Saudi Arabia have signed an agreement on a joint project to construct a 1 GW wind power farm. National pipeline company: The consolidated net profit of KazTransOil...
Industrial growth numbers look good, supported by an additional working day in February
KAZAKHSTAN · In Brief · 18 Mar 2024
The Bureau of National Statistics reported that in February, the country’s industrial growth numbers looked strong – both in the case of mining and manufacturing segments. It occurred, not least, due to a leap year and an additional working day in February. The mining segment grew by 3.6% y-o-y i...
Kazakhstan macro: The art of financing budgetary expenditures
KAZAKHSTAN · Report · 14 Mar 2024
The Bureau of National Statistics of Kazakhstan started publishing economic data for February, and it looks as though economic growth remains relatively stable, albeit uneven across sectors and with some signs of deceleration. For instance, the Bureau reported that retail sales grew by 4.0% y-o-y...
Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 07 Mar 2024
Feb 22 Bureau of National Statistics: Agricultural production in Kazakhstan increased by 0.4% y-o-y in January Bureau of National Statistics: In January, investments in fixed capital in Kazakhstan grew by 0.6% y-o-y Ministry of Industry and Construction: In 2023, coal production in Kazakhstan dec...