Kazakh economy

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New earthquake hits Almaty region

New earthquake hits Almaty region

An earthquake with a magnitude of 4.1 points has been registered 300 km west from Almaty today, the Committee for Emergency Situations of the Ministry of Education of Kazakhstan said. The epicenter of the quake was at a depth of 10 …

Kazakhstan's deputy economic minister appointed

Kazakhstan's deputy economic minister appointed

Baurzhan Bekeshev has been appointed deputy minister of the Kazakh national economy in accordance with the decree of the country’s government, the website of Kazakh Prime Minister said. Since 2014, Bekeshev worked …

Kazakh Prime Minister: no time to relax about GDP growth

Kazakh Prime Minister: no time to relax about GDP growth

Kazakhstan's GDP growth of 3.7% in the first four months of 2017 doesn't mean it's time to relax, Kazakh Prime Minister Bakytzhan Sagintayev said. "The results are quite promising, however, there is no …

Kazakhstan to Bolster Banks

Kazakhstan to Bolster Banks

The government plans to triple a special transfer from the national oil fund to the budget to 1.5 trillion tenge

Kazakhstan projects 1% economic growth for 2016

Kazakhstan projects 1% economic growth for 2016

Kazakhstan's GDP growth during 11 months of 2016 amounted to 0.8% and is expected to reach 1% by end of the year, Minister of National Economy of the country Kuandyk Bishimbayev said. He added that this result can …

 Fitch affirms Kazakhstan at 'BBB'

Fitch affirms Kazakhstan at 'BBB'

Fitch Ratings has affirmed Kazakhstan's Long-Term Foreign and Local Currency Issuer Default Ratings at 'BBB' with a Stable Outlook, the agency said. The issue ratings on Kazakhstan's seni …

Kazakh National Bank forecasts inflation at 8% in 2016

Kazakh National Bank forecasts inflation at 8% in 2016

The National Bank of Kazakhstan forecasts inflation at a level no higher than 8% in 2016, the head of the National Bank of Kazakhstan Daniyar Akishev said at the Astana Economic Forum. "The National Bank's …

Kazakh government revises forecast of economic growth

Kazakh government revises forecast of economic growth

The Kazakh government has revised the economic growth forecast for 2016, reducing the expectation of GDP from 2.1 to 0.5%. "If below 40 dollars [per barrel of oil]GDP growth was assumed at 2.1%, we believe that under the …

Nazarbayev: we have to get used to low oil prices

Nazarbayev: we have to get used to low oil prices

Kazakh President Nursultan Nazarbayev said that the country needs to get used to living with low oil prices, despite the fact that they have already reached their possible low mark. "A barrel of oil cost 8.5 dollars …

Cheap oil is impetus to modernization of Caspian region

Cheap oil is impetus to modernization of Caspian region

The catastrophic drop in oil prices actively promotes the development of the real sector of economies of the countries of the Caspian region, Russian, Azerbaijani and Kazakh experts said today during discussion of the economic future in the …

Kazakhstan reduces oil export customs duty

Kazakhstan reduces oil export customs duty

Kazakhstan has reduced the oil export customs duty to $40 per ton since January 1, 2016. The corresponding order was signed by the Kazakh national economy minister. The oil export duty in Kazakhstan has amounted to $60 per ton since …