President of Kazakhstan Nursultan Nazarbayev has declared it is time for domestic enterprises to search for new markets to sell their products instead of Russia.
Governor of the National Bank of Kazakhstan Kairat Kelimbetov said that a devaluation of the tenge is possible if oil prices fall below $50 per barrel.
With the coming of February Kazakhstan's population and businesses were holding their breaths waiting for the National Bank's next move on the tenge. Is devaluation inevitable and how bad can it be? Kazakhstani experts Olzhas Khudaiberganov and Anuar Ushbayev say they have a plan.
Two biggest Central Asian economies may become competitors if both are in the Eurasian Economic Union. For now, as Uzbek President expresses disinterest in joining the union, the bilateral cooperation and ties are strengthening.
Kazakhstani enterprises find themselves under increasing pressure with cheap products being imported from Russia. Some are calling for customs duties on the border between the Kazakhstan and Russia to be reintroduced.