Kazakh economy

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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 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 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

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

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 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 …

Vyacheslav Holodkov: We need to change the economic course

The head of the department of International Economic Organizations at the Center for Economic Research of the Russian Institute for Strategic Studies, Vyacheslav Holodkov, believes that ‘in times of crisis we need to increase state support …

Masimov: Kazakh budget can adapt to $16 per barrel

Kazakhstan's budget is able to withstand the test of current low oil prices, Kazakh Prime Minister Karim Masimov said. "The budget, now based on oil at $40, will most likely be revised to $30 and it could …