Bi-weekly Economic News Summary

KAZAKHSTAN - In Brief 05 Mar 2025 by Evgeny Gavrilenkov
Feb 19 KMG: The company and Hungarian MOL group (Multinational Oil and Gas) will discuss further details and conditions of testing supplies of Kazakh oil to Hungary. Ministry of Foreign Affairs: Kazakh diplomats will discuss the attack on CPC with Ukraine. National railways: China will invest CNY1 bln in transport and logistics hub in Kazakhstan. Bureau of National Statistics: In January, agricultural production in Kazakhstan increased by 3.8% y-o-y. Bureau of National Statistics: Industrial production in Kazakhstan increased by 2.3% y-o-y last month. Bureau of National Statistics: Investments in production capacity in Kazakhstan grew by 0.2% y-o-y in January. Bureau of National Statistics: Cargo turnover in Kazakhstan increased by 13.8% in January. Feb 20 President: In the aftermath of the fatal accident at the Kazakhmys mine, where seven miners died, Mr. Tokaev ordered an audit of hazardous industries and tighter industrial safety controls. Feb 21 Wheat imports: Russia has resumed wheat exports to Kazakhstan after lifting the ban, which was in effect until December 31, 2024. Tengizchevroil: The company continues to carry out uninterrupted oil supplies through the CPC pipeline despite the drone attack. NBK: The Board of the Bank has set limits for the spread between FX buying and selling rates in street exchange offices: for USD – KZT 7, for EUR – KZT 10 Feb 24 S&P: The agency has confirmed Kazakhstan's sovereign rating at BBB-, with a stable outlook. Sanctions: The EU has imposed sanctions on Kazstanex and MetallStan. Feb 25 CPC: The company shareholders expressed their willingness to support the repair work after the damage caused by the drone attack; repairs will b...

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