Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 21 May 2026 by Evgeny Gavrilenkov
May 8 National Railways: Kazakhstan Temir Zholy (National Railways) plans to place three issues of CNY-denominated bonds totaling CNY 1.79 bln. National gas company: QazaqGaz placed 10Y Eurobonds worth $700 mln at 5.625%. May 11 Turkey: The Turkish President, Mr. Erdogan, will visit Kazakhstan on May 13-14. May 12 Economy Ministry: Kazakhstan's GDP grew by 3.6% y-o-y in 4M26. Bank RBK: Kazakhstan's Bank RBK placed 5Y Eurobonds worth $300 mln at 8.0%. May 13 National pipeline company: In April, oil supplies to Germany reached 290K tons and grew by 38% m-o-m. National pipeline company: KazTransOil maintained oil shipments via Baku-Tbilisi-Ceyhan pipeline in April at the same level as in March level (125K tons). Government: Kazakhstan's oil production declined in 4M26 by 5 mln tons compared to the plan for this period. Government: Kazakhstan's trade with Iran in 2026 amid the conflict in the Persian Gulf and various settlement problems will moderate. Bureau of National Statistics: In 4M26, cargo turnover in Kazakhstan decreased by 7% y-o-y. OPEC: Kazakhstan oil production grew by 115K bpd m-o-m in April, and exceeded the quota by 1 mln bpd. Energy ministry: Kazakhstan increased oil supplies from Kashagan and Tengiz oil fields to local refineries in 2024 and 2025 by 0.3% and 8% accordingly. May 14 Parliament: The Senate has ratified the agreement with China on mutual protection of investments. NBK: Kazakhstan's international reserves grew by 2.6% m-o-m in April (to $132.6 bln), and by 2.5% YTD. Fitch: The agency assigned the final rating of "BB" to Bank RBK Eurobonds. Foreign investments: Syndicate of Chinese banks to allocate $190 mln for combined-cycle gas plant project ...

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