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.
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.
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.
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.
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.
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.
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
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.
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%.
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%.
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.
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.
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.
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.
Kazakhstan’s external trade statistics
Kazakhstan’s external trade turnover in 2010 grew by ¼ as compared to 2009, reaching $89 billion.
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.
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 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 planning to bring FDI up to 13-14% of GDP
Currently FDI stands at 8-9% of the GDP: Asylkhan Serikov, Head of Committee for Investments under the Ministry of Industry and New Technology.
Kazakhstan’s Agriculture Ministry has no plans to ban grain exports
Kazakhstan can export 5.5. million tons of grain in the 2010-2011 marketing year: Agriculture Ministry.
