Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 14 May 2025 by Evgeny Gavrilenkov
Apr 30 Energy Ministry: Kazakhstan is considering an increase of oil supplies to Germany to 2.2 mln tons in 2025 (vs initially planned 1.5 mln tons). Parliament: The Lower Chamber has approved a new Tax Code, which assumes VAT increases up to 16%. Ministry of Foreign Affairs: Kazakhstan introduces golden visas for foreigners willing to invest at least $300K in the capital of authorized local companies or equities on the stock market. May 5 National nuclear company: Kazatomprom increased uranium production by 11% y-o-y in 1Q25. Bureau of National Statistics: Inflation in Kazakhstan reached 1.2% m-o-m in April (10.7% y-o-y). Oil transportation: The volume of oil and gas condensate pumped through the Baku-Tbilisi-Ceyhan pipeline remained flat in 1Q25 compared to 1Q24. IMF: The Fund forecasts oil production in Kazakhstan to grow by 11% y-o-y in 2025 and 5% y-o-y in 2026. Grain Union of Kazakhstan: This agricultural year, the country may reduce wheat flour exports by 1.8% y-o-y. NBK: The Bank sold foreign currency worth $412 mln on the local market in April, as the funds originated from gold exports, i.e., sales on the global market. KMG: The company is ready for fluctuations in oil prices and elaborated measures in case of a sharp drop. KMG: The Board of Directors recommended paying 2024 dividends worth $0.95 per share, i.e., flat y-o-y. May 6 National pipeline company: Kazakhstan increased oil exports to Germany by 6.7% m-o-m in April. Government: Kazakhstan and Vietnam intend to increase bilateral trade turnover by over 100% and reach $2 billion annually. Energy Ministry: Kazakhstan confirms its commitment to the OPEC+ agreement and will continue to fulfill its obligatio...

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