Kazakh economy

Kazakh central bank hikes key rate to 12%

Kazakhstan's central bank hiked its policy rate to 12.0% from 9.25% today, governor Yerbolat Dosayev said. He cited risks of pressure on the tenge exchange rate and inflation after the collapse of oil prices, Reuters reported. …

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Tokayev announces democratic reforms in Kazakhstan

Political transformations in Kazakhstan will take into account the state's interests, Kazakh President Kassym-Jomart Tokayev told parliament in an annual address on Monday. The president criticised the central …

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Tenge hits new record low

The Kazakh tenge dropped to 386.9 per dollar on the Kazakhstan Stock Exchange (KASE) this morning as of August 6, 2019, the press service of KASE said. The maximum dollar selling rate in exchange offices of Nur-Sultan is 387.2 …

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Kazakhs policy rate unchanged at 9.25%

Kazakhstan’s central bank kept its policy rate unchanged at 9.25%, in its first review since last month’s leadership reshuffle at the Central Asian nation’s financial regulator. The bank said in a statement that the …

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IMF upgrades Kazakhstan GDP forecast

The International Monetary Fund (IMF) expects Kazakhstan’s economy to expand 3.7% in 2018 and 3.1% in 2019, the fund said in a press release. "The growth rate of Kazakhstan's economy increased due to an increase in oil …

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Kazakhstan to limit payments in foreign currency

Kazakhstan will limit the turnover in the foreign exchange market, the relevant law was signed the yesterday by the country's President Nursultan Nazarbayev. The amendment to the Law "On Currency Regulation and …

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Kazakhstan may limit banks’ lending to their shareholders

To prevent the withdrawal of assets from the financial institutions of Kazakhstan, it is necessary to restrict legislatively the banks' lending to their shareholders, the chairman of the Senate of the Republic, Kassym-Zhomart Tokayev, said at …

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Kazakhstan approves new EEU customs duties

The upper chamber of the Kazakh parliament approved the ratification of a protocol that specifies a procedure for distribution of import customs duties between the states participating in the Eurasian Economic Union (EEU). …

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Kazakhstan expects stable tenge exchange rate

Kazakhstan's central bank chairman, Daniyar Akishev, said he expected no significant changes in the tenge exchange rate this year. "The situation right now is favourable both on the external and domestic …

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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 …

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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 …

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