37.9 mln tons of oil produced in Kazakhstan in H1 2019
Kazakhstan produced 37.9 mln tons of oil in the first half of 2019 that is 1.5% less than in the same period of 2018.
Kazakhstan produced 37.9 mln tons of oil in the first half of 2019 that is 1.5% less than in the same period of 2018, the Kazakh Statistics Committee’s press service reports.
For the first six months of 2019, the volume of gas condensate production amounted to 6.281 mln tons that is 5.3% less as compared to the same period of the previous year, natural gas production made 28,074 bln cu m, coal production hit 53,958 mln tons.
Source: Kazinform News Agency
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ADB: Kazakhstan's economy to grow 3.8% in 2024, 5.3% in 2025
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The prospects for Kazakhstan’s economic development look positive in the medium term," said ADB Country Operations Head in Kazakhstan Iskandar Gulamov.
However, the economy’s dependence on commodities makes such growth volatile-so structural reforms are key to bolstering the country’s economic resilience and sustainability," he added.
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ADB forecasts that service prices are forecast to be the main source of inflation, rising 9.8% in 2024 and 8.1% in 2025 due to government-announced increases in utility prices.
The National Bank of Kazakhstan will gradually ease monetary policy and reduce the policy rate in line with the decline in inflation and inflationary expectations. However, rising utility prices and continued strong domestic demand will keep inflation above the National Bank's 5% target.
Caucasus and Central Asia economies
According to an ADB report, Caucasus and Central Asia economies will slow after the boost from re-exports and Russian migrant inflows in 2023. Growth in the subregion is forecast to fall to 4.3% in 2024, down from 5.3% in 2023 bouncing back to 5.0% in 2025.
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7th meeting of the Committee for Cooperation of the Republic of Kazakhstan - European Union in trade configuration was held
Images | Ministry of Trade and Integration
On April 9, 2024, in Brussels the 7th meeting of the RK-EU Cooperation Committee in a trade configuration chaired by the Vice-Minister of Trade and Integration of the RK Kairat Torebaev and Acting Director of Directorate E in the European Commission's Directorate-General for Trade and Chief Advisor to the Director-General, Management with Southern Neighbors, the Middle East, Turkey, Russia and Central Asia Leon Delvauxб press service of the Ministry of Trade and Integration reports.
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