Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 07 Aug 2025 by Evgeny Gavrilenkov
Jul 24 KMG: Kazakhstan increased oil refining by 8.4% y-o-y in 1H25. Government: Turkish investors to build grain processing and fertilizer production plants in Kazakhstan for $610 mln. Jul 28 Asian Development Bank: The bank improved Kazakhstan's 2025 GDP growth forecast from 4.9% to 5.1%, and the 2026 forecast was revised from 4.1% to 4.3%. NBK: The Bank does not plan to intervene to support the tenge. NBK: The Bank to test cryptocurrency exchange operations and asset tokenization service. Jul 29 Ministry of Trade: Kazakhstan has reached an agreement with the European Commission on the supply of coal to Europe through the Russian ports. IMF: The Fund raised the nation's 2025 GDP growth forecast from 4.9% to 5.0%. KMG: In 1H25, the company increased y-o-y oil and condensate production by 8.8% and gas production by 18.3%. KMG: In 1H25, the company y-o-y increased processing of hydrocarbons by 16.5% y-o-y, as the production of petroleum products grew 17% y-o-y. Jul 30 NBK: As opposed to its previous statement, the Bank has decided to resume FX interventions to support the tenge amid low market liquidity and signs of speculative pressure. Jul 31 Energy Ministry: Kazakhstan and Russia will complete the analysis of technical possibilities for increasing the transportation of Russian oil to China in the near future. Energy Ministry: Kazakhstan plans to increase oil exports via the Baku-Tbilisi-Ceyhan oil pipeline to 1.7 mln tons in 2025 (up from 1.4 mln tons in 2024). Government: The Kazakh authorities expect the national currency to strengthen after FX interventions by NBK. Government: Kazakhstan will build three thermal power plants independently, without the participatio...

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