Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 17 Jun 2026 by Evgeny Gavrilenkov
Jun 4 Qazaqgaz: The company and Russian Gazprom signed an agreement on additional gas supplies to Kazakhstan in 2026 Jun 5 NBK: The regulator lowered the base rate from 18% to 17%. NBK: The Bank has raised its forecast for the country's GDP growth in 2026 to 4.5-5.5% from the previously expected 3.5-4.5%, and expects inflation at the level at 9-11% by year-end. NBK: The Bank considers it premature to talk about the beginning of a rate cut cycle due to still high inflation. OPEC+: The consortium decided to increase the quota for oil production in July by 188K bpd, the compensation period for violators (including Kazakhstan) has been extended until the end of 2026. Kazakhstan's quota increased by 10K bpd. Jun 8 Electricity generation: Italian Eni to build another 100 MW wind farm in western Kazakhstan. Jun 9 NBK: Kazakhstan's international reserves increased by 1.2% in May (to $133.98 bln), and by 3.6% YTD. Imports: Kazakhstan plans to impose a partial ban on wheat imports to support local producers. National Wealth Fund: Kazakhstan's Samruk-Kazyna State Fund net profit (in IFRS terms) fell by 2.9% in 2025. Jun 10 Energy Ministry: Kazakhstan will be guided by national interests in the issue of compliance with the OPEC+ deal. Energy Ministry: Kazakhstan is ready to increase transit of the Russian gas to Uzbekistan, negotiations are in progress. Prime-minister: A plant for the production of ammonia and carbamide worth $1.6 bln will be built in City of Aktau Energy Ministry: Kazakhstan intends to produce 98 mln tons of oil in 2026. Energy Ministry: Kazakhstan does not expect any shortage of gasoline and diesel fuel. Jun 11 Agriculture Ministry: Kazakhstan has increased grai...

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