Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 30 Oct 2024 by Evgeny Gavrilenkov
Oct 16 National Nuclear Company: Kazatomprom and German Siemens have signed a strategic agreement on partial localization of equipment production in Kazakhstan. Samruk-Kazyna: The Fund and the Chinese CITIC Group have agreed on strategic cooperation. Banking regulation: The Agency for Regulation and Development of the Financial Market (ARRFR) of Kazakhstan plans to impose restrictions for banks, according to which they will be required to automatically reject payments and transfers to digital asset exchanges that are not members of the Astana International Financial Center. Oct 17 World Bank: The bank has maintained the Kazakh GDP growth forecast in 2024 at 3.4% y-o-y Oct 18 Ministry of Agriculture: Kazakhstan discussed with Russia some issues associated with a temporary ban on imports to the latter of certain types of vegetables, melons, and cereals. National oil transportation company: KazTransOil increased oil transportation by 3.8% y-o-y in 9M24 (to 33.6 mln tons). Ministry of Energy of Azerbaijan: In November, Kazakhstan, Azerbaijan, and Uzbekistan will sign an agreement on strategic partnership in the energy sector. Oct 22 Government: Kazakhstan and Afghanistan can almost double the turnover of agricultural products and increase it to $1 bln. Energy Ministry: Kazakhstan is negotiating to participate in the construction of the Turkmenistan - Afghanistan - Pakistan - India (TAPI) gas pipeline. IMF: The Fund has maintained the Kazakh GDP growth forecast for 2024 at 3.5%. Oct 23 Ministry of Agriculture: So far, 26.5 mln tons of grain have been harvested in Kazakhstan in 2024 (vs forecast at 13-14 mln tons and 16.6 mln tons in 2023). Ministry of Trade: Due to a bad ha...

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