Bi-weekly Economic News Summary

KAZAKHSTAN - In Brief 17 Apr 2025 by Evgeny Gavrilenkov
Apr 3 National pipeline company: The volume of Kazakh oil transportation to Germany via the Druzhba oil pipeline in March reached 150K tons and increased by 50% compared to February. Ministry of Trade: US tariffs will affect less than 5% of Kazakhstan exports to the US. KMG: The heads of KMG and Russian Transneft met in Moscow and discussed prospects for cooperation and security of the pipeline system. Apr 4 President: Kazakhstan highly appreciates the support of the European Union in the stable operation of the CPC. President: Mr. Tokayev proposed to create a research center on rare earth metals in Astana. CPC: The Russian court did not restrict the operation of the CPC marine terminal based on the results of the watchdog inspection but imposed a fine of R200K. Apr 5 Energy Ministry: Kazakhstan and some other seven OPEC+ members will adjust the schedule to the gradual return of oil production volumes to levels set in the OPEC+ agreement. Apr 8 Development Bank of Kazakhstan: the bank has placed 5Y Eurobonds for $500 million at 5.625%. NBK: The Bank is ready to take measures to stabilize the tenge (including direct interventions), if necessary. Apr 9 Asian Development Bank: The bank downgraded Kazakh 2025 GDP growth forecast from 5.1% to 4.9%. CPC: The company resumed oil shipments from the previously suspended (due to the regulator’s request) facility in the Caspian Sea. Ministry of Agriculture: Kazakhstan is ready to export 2 mln tons of wheat and 1 mln tons of barley to Iran annually. Economy Ministry: Kazakhstan is preparing budget optimization for oil prices dropping to $50/bbl - $50/bbl. Apr 10 Energy Ministry: Kazakhstan is still considering supplying Kazakh oil...

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