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Asian Development Bank annual sitting to be held in Astana in 2014
Asian Development Bank annual sitting to be held in Astana in 2014

Kazakhstan’s Prime Minister Karim Massimov has met Asian Development Bank's (ADB) Vice-President Xiaoyu Zhao today.

Asian Development Bank annual sitting to be held in Astana in 2014
Asian Development Bank to extend a loan worth $500 million
Asian Development Bank to extend a loan worth $500 million

Kazakhstan’s Government, Damu Small Entrepreneurship Development Fund and Asian Development Bank have signed a framework agreement worth $500 million to support small and middle-sized business in Kazakhstan.

Asian Development Bank to extend a loan worth $500 million
©RIA Novosti
KazMunaiGas EP exiting negotiations over Akkas gas field in Iraq

KazMunaiGas Exploration Production was established in March 2004 and is among the top three oil producers in Kazakhstan.

KazMunaiGas EP exiting negotiations over Akkas gas field in Iraq
Sauat Mynbayev. Photo courtesy of focus.kz
Kazakhstan to boost oil processing to 17 million tons by 2015

As of today, Kazakhstan-based refineries process a bit over 13 million tons a year: Oil and gas Minister Sauat Mynbayev.

Kazakhstan to boost oil processing to 17 million tons by 2015
Photo courtesy of newskaz.ru
Ministry of Economic Development and Trade unveils a detailed plan to secure 7% GDP growth

To secure GDP annual growth at 7%, capital investments for the period of 2011-2015 should grow by 58.5% against 2010: Kairat Kelimbetov, Minister Economic Development and Trade.

Ministry of Economic Development and Trade unveils a detailed plan to secure 7% GDP growth
Photo courtesy of vesti.kz
Budget deficit to be cut down from 2.5% to 1.3% of GDP

Ministry of Economic Development and Trade forecasts budget deficit will be cut down to 1.3% of the nation’s GDP by 2014.

Budget deficit to be cut down from 2.5% to 1.3% of GDP
Kairat Kelimbetov. By Yaroslav Radlovsky ©
Kazakhstan developing Plan B in case of negative economic scenario

Early May the Government adopted a plan to secure 7% GDP growth in 2011 in line with President Nazarbayev’s instructions.

Kazakhstan developing Plan B in case of negative economic scenario
Kairat Kelimbetov. By Yaroslav Radlovsky ©
Economy Minister regards year 2011 as “dangerous” in terms of inflation

He reminded that in January – April consumer prices grew 4.2% as compared to December 2010.

Economy Minister regards year 2011 as “dangerous” in terms of inflation
GDP growth in January – April made up 6.9%
GDP growth in January – April made up 6.9%

Early May the Government adopted a plan to secure 7% GDP growth in 2011 in line with President Nazarbayev’s instructions

GDP growth in January – April made up 6.9%
Photo courtesy of Tengrinews.kz
IMF increased its expectations of economic growth in Kazakhstan

Kazakhstan economic growth in 2011 is expected to reach 5.9 percent: the International Monetary Fund.

IMF increased its expectations of economic growth in Kazakhstan
Q1 2011 inflation rate in Kazakhstan lowest in the CIS
Q1 2011 inflation rate in Kazakhstan lowest in the CIS

According to the Committee, the average inflation rate across the CIS stood at 9.5%, with the Kazakhstan’s rate standing at 8.5%.

Q1 2011 inflation rate in Kazakhstan lowest in the CIS
REUTERS/Petr Josek Snr©
Gold and currency reserves grew by 31% in January-April to $36.4 billion

In April, gold and currency reserves grew by 5.14%, with net currency reserves growing by 4.92% and gold reserves growing by 7%.

Gold and currency reserves grew by 31% in January-April to $36.4 billion
Karim Massimov. Photo courtesy of government.kz
Kazakhstan’s Government adopts plan to secure 7% economy growth

The task to ensure 7% growth was set by President Nazarbayev at an extended sitting of the Government mid-April.

Kazakhstan’s Government adopts plan to secure 7% economy growth
Nobel Prizewinners Club to open in Astana
Nobel Prizewinners Club to open in Astana

The club of Nobel prizewinners will open in Astana. The idea to create the scientific club belongs to Robert Mundell.

Nobel Prizewinners Club to open in Astana
ESCAP forecast Kazakhstan’s economy growth at 6.2% in 2011
ESCAP forecast Kazakhstan’s economy growth at 6.2% in 2011

After the moderate 1.2% in 2009, the economy growth bounced back up to 7% in 2010 against the backdrop of favorable external economic conditions (…) The economy is set to grow by 6.2% in 2010: Noeleen Heyzer, ESCAP Executive Secretary.

ESCAP forecast Kazakhstan’s economy growth at 6.2% in 2011
By Yaroslav Radlovsky ©
EBRD to invest to Kazakhstan $1 billion this year

The Bank’s current obligations to invest into Kazakhstan in future to finance projects in various sectors make up $2.8 billion Euro: Finance Minister Bolat Zhamishev.

EBRD to invest to Kazakhstan $1 billion this year
Kazakhstan’s external trade statistics
Kazakhstan’s external trade statistics

Kazakhstan’s external trade turnover in 2010 grew by ¼ as compared to 2009, reaching $89 billion.

Kazakhstan’s external trade statistics
Berik Kamaliyev. By Yaroslav Radlovsky ©
Saudi Arabia interested in grain imports from Kazakhstan

When the railway link Uzen – Turkmenistan border is completed, Kazakhstan will get an access to the Persian Gulf. This will cut down the transportation route to Saudi Arabia: Minister of Transport and Communications Berik Kamaliyev.

Saudi Arabia interested in grain imports from Kazakhstan
Photo courtesy of hozu.parlam.kz
Kazakhstan’s Senate ratifies Agreement on concerted principles of currency policies

The sides undertake to pursue an economic policy to raise confidence in the national currencies of the Customs Union states.

Kazakhstan’s Senate ratifies Agreement on concerted principles of currency policies
Karim Massimov and German Gref.  Photo courtesy of flikr.kz
Kazakhstan’s PM Massimov meets Sberbank CEO German Gref

Kazakhstan-based subsidiary of Russia’s Sberbank has entered the top ten banks in Kazakhstan in terms of assets recently.

Kazakhstan’s PM Massimov meets Sberbank CEO German Gref