Olzhas Bektenov checks CHPP modernisation pace and familiarises himself with solving problems with water shortages in West Kazakhstan regionOlzhas Bektenov checks CHPP modernisation pace and familiarises himself with solving problems with water shortages in West Kazakhstan region
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During a briefing for the media after the Senate meeting, the Prime Minister of the Republic of Kazakhstan Alikhan Smailov spoke about the fulfillment of the Head of State's instruction to halve inflation in the country, primeminister.kz reports.
The Prime Minister noted that annual inflation, having reached its peak in February, decreased to 10.8% by the end of October.
To date, we already see a two-fold reduction. We forecast that by the end of the year the annual inflation rate will be below 10%. This shows that the relevant set of measures implemented by the Government and the National Bank is yielding results," Alikhan Smailov said.
Thus, the activity of stabilization funds has been reformatted. Funding is directed to agricultural producers as a priority, which allows to support domestic production, develop this sector of the economy and stabilize prices in the market. In addition, commodity interventions are implemented to stabilize prices during the off-season.
Along with this, control activities of regional commissions have been organized. In general, about a thousand unproductive intermediaries have been identified.
Agricultural fairs are organized weekly in all regions of the country to provide the population with cheaper foodstuffs. In order to level the rise in prices for flour and social bread, measures are being taken to supply cheapened grain to the regions from the reserves of "Prodkorporatsiya".
Prime Minister emphasized that the work to reduce inflation by another 2 times in the medium term, i.e. to 5% in 2026, would be continued.
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Kazakhstan and Uzbekistan intend to increase mutual trade by 2.5 times, reaching $10 billion, Kabar reports.
The announcement was made during the negotiations between the Minister of Foreign Affairs of Uzbekistan, Bakhtiyor Saidov, and his Kazakh counterpart, Deputy Prime Minister and Minister of Foreign Affairs Murat Nurtleu.
Both sides noted significant achievements in industrial cooperation.
Currently, 12 joint projects with a total value of $156 million are underway. In addition, 21 projects worth about $1 billion are being explored. The next milestone is to increase the trade turnover to $10 billion without losing the momentum gained," said Nurtleu during a press briefing following the meeting.
In turn, Bakhtiyor Saidov reminded that the bilateral trade turnover of the two countries has doubled in recent years.
Economic and trade relations are one of the most crucial aspects of our relationship. Kazakhstan is our largest trading partner in Central Asia. Over the past few years, mutual trade turnover has doubled. Recently, we discussed ways to increase this figure by 2-3 times," he noted.
The heads of the foreign ministries of Uzbekistan and Kazakhstan also discussed issues related to enhancing the transport-transit potential of both countries, modernizing checkpoints at border areas, expanding their capacity, digitizing customs and other services.
Against the backdrop of climate change, the issues of using water resources become a priority. Therefore, we have placed special emphasis on the introduction of modern technologies for the rational management of transboundary rivers in Central Asia, strengthening the legal and structural basis of the International Fund for the Salvation of the Aral Sea," said Saidov.
The Uzbekistan Foreign Minister is in Kazakhstan for an official visit. The program of the visit includes negotiations between Bakhtiyor Saidov and the President of Kazakhstan, Kassym-Jomart Tokayev.
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Progress in implementing the instructions given by Prime Minister of Kazakhstan Olzhas Bektenov at a meeting on 9 February, reviewed at the Government session, primeminister.kz reports.
Deputy Prime Minister - Minister of National Economy Nurlan Baibazarov reported that in order to optimise budget expenditures conducted an additional audit to identify unproductive positions.
Based on this, it is proposed: to reduce the current administrative costs of government agencies (forums and research, business trips), to review projects and activities that are not of primary importance (construction of administrative buildings, current repairs), etc.
As a result, over 300 billion tenge is proposed for optimisation, which will be used to finance the instructions of the Head of State and priority sectors of the economy.
Nurlan Baibazarov also said that to date a draft presidential decree on comprehensive liberalisation of the economy has been developed. It provides for systemic measures to gradually reduce state interference in economic processes.
The draft decree provides for three areas: the development of market competition, effective privatisation and comprehensive reform of the quasi-state sector.
As Head of the Government noted, the proposed measures to optimise the expenditures of the republican budget are supported.
We will direct the saved financial resources to the growth of the economy, without throwing them left and right. This work should be continued and the results should be taken into account in the formation of the draft national budget for 2025-2027," Olzhas Bektenov said.
Speaking about the liberalisation of the economy, he stressed that state regulation should be balanced, aimed at ensuring the effective functioning of the market and protecting the interests of all its participants.
It is necessary to create a market where business entities will compete freely. At the same time, it is important to take into account national interests and security," Prime Minister said.
According to him, special attention should be paid to measures to develop market competition in the markets of fuel and energy complex, transport, communications and other commodity markets.
Olzhas Bektenov also added that there are methodological and technical issues regarding the single payment from the wage fund of employees.
The Ministry of Finance together with the ministries of digitalisation, labour, health, national economy need to revise the criteria for application of the single payment, simplify the mechanism of calculation and payment, expand the scope of application," he said.
First Deputy Prime Minister Roman Sklyar said that on 14 February, a meeting was held with the heads of 50 largest industrial and national companies. They have been set clear tasks for the creation in the coming years of new production facilities of high conversion, as well as the unconditional increase of local content in the procurement of goods, works and services.
According to him, the enterprises in general have an understanding of the set goals. For example, ERG is already building a hot-briquetted iron plant, and KAZMinerals is building a new copper smelter. "Kazphosphate and Kazazot are planning to increase fertiliser output by 2 times due to new production facilities. In addition, on industrial sites in Almaty and Kostanay will begin manufacturing of automotive components.
Roman Sklyar added that all enterprises until March 16 will be presented medium-term development plans for the creation of new production of the next stage, as well as new programmes to increase the purchase of products of domestic manufacturers.
As Prime Minister noted, this direction is very important in the conditions of the need for accelerated development of the national economy.
We have significant growth reserves due to increased demand for Kazakhstani products. With the help of systematic and active work with enterprises we must maximise the load of orders of domestic producers," Olzhas Bektenov concluded.
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Kyrgyzstan exported 20.2 tons of gold in 2023, which is 69 times higher than the 290 kg of gold exported in 2022, Trend reports.
According to the State Statistical Committee of Kyrgyzstan, the export value amounted to $1.284 billion, which is a 14-fold increase compared to 2022 ($13 million).
During this period, Kyrgyzstan exported gold to the following countries:
- Switzerland - 17.065 tons ($1.088 billio)
- China's Hong Kong - 1.847 tons ($115 million)
- UAE - 1.294 tons ($80.309 million)
- Türkiye - 5.5 kg ($341,700)
Gold exports from Kyrgyzstan amounted to nearly 4.8 tons in December 2023 (15.4 tons from January through November 2023).
Kyrgyzstan's foreign trade turnover reached $15.66 billion in 2023, which is a 29.9 percent increase compared to 2022. The country's exports totaled $3.308 billion, rising by 46.8 percent year-on-year. Imports to Kyrgyzstan amounted to $12.352 billion, which is 26 percent higher than in 2022.
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China, Russia and Italy were the main export markets for Kazakhstani goods in 2023, according to the press service of the QazTrade Center for Trade Policy Development, Kazinform News Agency correspondent reports.
According to the company’s press service, China topped the list of export markets for Kazakhstani goods in 2023, with the export representing 56.3% of Kazakhstan’s trade turnover with the country. China accounted for 31.5 billion US dollars of the total foreign trade of Kazakhstan.
The country’s second-top importer was Russia, with 26 billion US dollars worth of goods exported to the country last year. It is followed by Italy ($16.1bn), South Korea ($6bn), and Türkiye ($6bn).
Kazakhstan mainly exported crude oil and petroleum products, and imported equipment, motor transport, components, electrical engineering equipment, and non-precious metals.
As QazTrade informed, the country increased the number of export markets from 131 to 135. Kazakhstan saw its non-primary exports grow by 10% to China, 34% to Hong Kong, 30% to South Korea, and 64% to Vietnam. The country also saw its export of manufactured goods decline 9.8% and agricultural products 3.7%.
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The trade volume between Turkmenistan and Kazakhstan for the whole of last year amounted to $563.06 million, Trend reports.
According to data from Kazakhstan's Bureau of National Statistics, the volume of trade turnover between the countries increased by 28 percent over the specified period compared to the same period in 2022, when it amounted to $438.69 million.
During this period, Turkmenistan's exports to Kazakhstan amounted to $165.88 million, marking a 68 percent increase compared to the same period in 2022, when they stood at $98.33 million.
Turkmenistan's share in Kazakhstan's total imports during the reporting period was 0.3 percent, compared with 0.2 percent for the whole of 2022.
At the same time, Turkmenistan increased imports from Kazakhstan by almost 17 percent for the whole of 2023 compared to the same period in 2022 (from $340.35 million to $397.17 million).
Turkmenistan accounted for 0.5 percent of total exports from Kazakhstan, compared with 0.04 percent recorded in 2022.
Meanwhile, Kazakhstan's trade turnover for the whole of last year amounted to $139.83 billion, which is almost 3.2 percent more than in the same period of 2022, when it amounted to $135.52 billion.
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Prime Minister of Kazakhstan Olzhas Bektenov held a meeting with Derek Magness, Managing Director of the Eurasian division of Chevron, primeminister.kz reports.
The parties discussed the launch of new production facilities, increasing the share of local content in the procurement of goods, works and services, topical issues of development of oil and gas industry and petrochemicals, as well as the implementation of social projects in Kazakhstan.
Prime Minister noted that on the instructions of the Head of State Kassym-Jomart Tokayev, large-scale economic reforms are being carried out in the republic, which should create conditions for annual GDP growth of 6% or more.
The government will create the most comfortable conditions for investors to implement projects and will provide the necessary support. In turn, we also expect from our partners active actions on timely implementation of joint plans, providing for the maximum use of local potential, technology transfer and deep processing of raw materials," Olzhas Bektenov said.
Prime Minister emphasized the need to complete in time the projects of future expansion and wellhead pressure management at the Tengiz field in the 1st half of 2025 and 1st half of 2024, respectively.
He added that the Government also attaches great importance to the development of the Karachaganak field. The priority here is to maintain oil and condensate production at the level of at least 11 million tons per year.
The conceptual decision on the implementation of the project of construction of a gas processing plant at Karachaganak with a capacity of 4 billion cubic meters per year is important for the future development of the field," Olzhas Bektenov stressed.
At the same time, Prime Minister emphasized that one of the priorities of economic policy is the development of local content.
Closer interaction with domestic manufacturers interested in production is required. At the same time, if the necessary goods or equipment are not produced in the country, we want to see concrete plans to localize these productions in Kazakhstan in the next 2-3 years. I convincingly ask you to reconsider the work in this direction," Prime Minister said.
In turn, Derek Magness confirmed the readiness of Chevron to strengthen cooperation with Kazakhstan in all areas of interest.
We are happy to work together and develop our partnership. "Chevron" supports those efforts that are made to develop the economy of the country. Today, good conditions are being created for investments and new projects. We see opportunities for future development in the context of our partnership," he said.
Tell a friendIn 2023, migrants transferred 2 billion 706.1 million US dollars to Kyrgyzstan. Such data is published on the website of the National Bank of the Kyrgyz Republic, Kabar reports. Compared to 2022, inflows decreased by 12%. During that year, $3 billion 86.5 million came into the country through money transfer systems. More than 93.5% of the money received last year came from Russia - $2 billion 531.5 million. Compared to the year before last, the figure fell by 13.8%. $19.4 million was received from other CIS countries. The volume of transfers from non-CIS countries in 2023 amounted to $155.3 million - 29% ($45.3 million) of individuals were transferred to Kyrgyzstan from the United States. In 2022, $134.2 million was received from non-CIS countries, or 15.7% less.
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The results of socio-economic development and implementation of the national budget for January 2024 were considered at the Government session of Kazakhstan, primeminister.kz reports.
As reported by Deputy Prime Minister - Minister of National Economy Nurlan Baybazarov, during the reporting period, the growth rate of Kazakhstan's economy amounted to 3.9%. Among the industries, the best dynamics is demonstrated by construction (+12.8%), transportation and warehousing (+11.4%), information and communication (+10.6%), as well as manufacturing industry (+6.9).
According to preliminary results, in 2023, foreign trade turnover increased by 3.2% to $140 billion. Exports reached about $79 billion, exports of processed goods reached more than $25 billion, and imports exceeded $61 billion. Overall, the trade surplus is equal to about $18 billion.
Finance Minister Madi Takiyev reported that the state budget received about 1 trillion tenge of revenues the plan was fulfilled by 111.5%. The republican budget was replenished by 521 billion tenge, local budgets received 526 billion tenge. The state budget expenditures were executed by 96.9%.
Heads of regions, which achieved the lowest development indicators by the end of January, also made reports at the meeting. Among them are Akim of North-Kazakhstan region Gauez Nurmukhambetov, Akim of Mangystau region Nurlan Nogaev and Akim of Atyrau region Serik Shapkenov.
Prime Minister of Kazakhstan Olzhas Bektenov emphasized that the priority task of the Government for the current year and the medium term remains to ensure stable economic growth at a level of at least 6%.
I charge the Ministry of National Economy together with sectoral government agencies within a month to develop and approve a plan of priority actions to ensure economic growth at the level of 6% in the current year. It should contain specific and effective measures," Prime Minister said.
At the same time, Olzhas Bektenov drew attention to the fact that the growth of investment in fixed assets in January amounted to only 0.6%. In his opinion, such a low indicator speaks about the poor performance of authorized state bodies and akimats.
It is necessary to strengthen the activities of the Investment Headquarters, which has been given sufficient powers. The primary task of ministers and akims is to provide effective and efficient support for the implementation of investment projects," Prime Minister noted.
He emphasized that, given the important role of investment as the main driver of GDP growth the building of a proper investment policy is a key factor.
The coordinated work of the Government in this direction is to create an integral ecosystem of investment attraction, effective support of investment projects, as well as conditions for timely implementation of projects," Head of the Government said.
For this purpose, he instructed to establish effective and stimulating KPIs to improve the performance of government agencies and development institutions, as well as their responsibility in case of failure to achieve the set target indicators.
This will contribute to improving the investment climate and achieving real results," Olzhas Bektenov said.
Another important factor of a successful economy is a strong and competitive business. Therefore, the development and support of entrepreneurship is one of the main tasks of the Government.
Priority should be given to high value-added processing, as well as the export potential of manufactured products. Financial support should be provided proportionally depending on the level of technological complexity of production. That is, the more complex the production and more technological, the lower the loan rate or longer loan term," Prime Minister said.
He emphasized that domestic business should be provided with affordable financing, including through off-budget sources and expansion of guarantee mechanisms. This will allow local enterprises to successfully compete with foreign suppliers.
To support the development of medium-sized businesses, Olzhas Bektenov instructed to review the system of state support and accelerate the conclusion of agreements with the most successful medium-sized enterprises aimed at expanding production by 2-3 times.
The completion this year of the moratorium on business inspections should not contribute to an increase in the administrative burden on entrepreneurs. The automated system of state control, which makes it possible to exclude the human factor, should be fully applied," he said.
Containment of price growth also remains a priority task for the Government. This year the task is to keep inflation within the corridor of 6-8%. To do this, government agencies must ensure the qualitative implementation of the Set of measures to control and reduce inflation.
The head of state at the enlarged meeting noted that last year VAT amounting to about 600 billion tenge was not returned to business. At the same time advanced the budget with payments of 2024 to finance urgent expenditures. These are the results of improper planning, the revenue plan for 2023 was overestimated. This practice should not be repeated," Prime Minister emphasized.
At the same time, he added that there would be no increase in VAT.
On the instructions of the Head of State, there will be no increase in the rate of value added tax. We must look for other ways to replenish the revenue part of the budget. The Ministries of National Economy and Finance need to ensure quality planning of both expenditure and revenue parts of the republican budget. It is important to take effective measures to improve tax and customs administration, primarily through digitalization," Olzhas Bektenov said.
According to the Prime Minister, it is important to strengthen financial discipline, to exclude unproductive expenditures and to increase the efficiency of state budget expenditures in general.
I want to emphasize once again that we should make maximum efforts to ensure a high rate of economic growth. Each minister and akim of the region are personally responsible for achieving the set goals," he concluded.
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