Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 27 Jul 2023 by Evgeny Gavrilenkov
Jul 17 KazTransOil: The company increased oil transportation by 7% y-o-y in 1H23 to 21.4 mln tons Bureau of National Statistics: Industrial production in Kazakhstan in 1H23 grew by 3.8% y-o-y Bureau of National Statistics: Investments in fixed assets increased by 13.1% y-o-y in 1H23 to KZT6.7 trln Jun 18 Bureau of National Statistics: Kazakhstan's foreign trade surplus was $7.4 bln in 5M23, which is well below the 5M22 level (2.3 times) Bureau of National Statistics: Agricultural production increased by 3.2% y-o-y in 1H23 to KZT 2.1 trln Bureau of National Statistics: Cargo turnover in Kazakhstan increased by 2.5% y-o-y in 1H23 Sinopec: The company plans to increase its stake in the projected polyethylene plant in Kazakhstan to 30% Jul 19 Asian Development Bank: The bank improved Kazakhstan's GDP growth forecast from 3.7% to 3.9% for FY23 Jul 20 President: Kazakhstan highly appreciates cooperation with OPEC and is ready to deepen cooperation President: Cargo traffic through Trans-Caspian International Transport Route (an international transport corridor that runs through China, Kazakhstan, the Caspian Sea, Azerbaijan, Georgia, and further to Turkey and European countries) is planned to grow up to 500K containers per year by 2030. In 2022 33.6K containers were transported Jul 21 KTZ: Kazakhstan increased cargo exports to China by 37% y-o-y in 1H23 Jul 25 Energy Ministry: The Government sees no threats to oil exports due to the situation in the Black Sea area Ministry of Finance: The republican budget was in surplus in 1H203 (KZT 771 bln). The government again amended the 2023 budget. CPC: The volume of oil pumping increased by 5.9% y-o-y to 32.2 mln tons in 1H23 Jul 26 ...

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