Kazakhstan Extends Ban on Export of Certain Timber Products for Six Months

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Tax revenues increased by 18% to KZT 630 billion. Foreign tourists spent $2.9 billion in Kazakhstan. Investment attracted to the tourism sector rose by 33% year-on-year to KZT 1.3 trillion. The industry's contribution to the national economy reached KZT 5 trillion," Myrzabossynov said.

Last year, Kazakhstan hosted 13 international events that generated approximately $18 million for the economy. To strengthen the country’s position in the global market, existing infrastructure constraints must be addressed. In particular, Almaty, as the country’s main business hub, requires a modern international-standard convention and exhibition centre. An appropriate decision on this issue should be made," Myrzabossynov said.

Another unique tourism asset of the country is the Baikonur complex, the world’s first and largest spaceport. The time required for foreign visitors to obtain permits has been reduced to 10 days. This has improved accessibility and enabled tour operators to expand launch-viewing programmes and off-launch tourism activities. The Gagarin Launch Pad, the Assembly and Refuelling Complex, and the Dynamic Test Facility transferred to Kazakhstan have considerable tourism potential. However, their development will require modernisation and substantial investment. Project teasers have already been prepared for potential investors," the minister said.

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Growth was uneven, with declines in 2020-2021 due to the pandemic and OPEC+ production restrictions. However, in the long-term trend, Kazakhstan has strengthened its position," the Energy Analytics Telegram channel said.

The increase has been particularly noticeable since 2016, when production rose from 78 million tonnes in 2016 to 86 million tonnes in 2017 (...) Kazakhstan has managed not only to maintain production levels but also to reach a new record high of around 100 million tonnes in 2025," the report said.

We do not expect the tenge to weaken as a result of the change in the base rate. A 17% base rate preserves the attractiveness of tenge-denominated assets. In other words, it remains far more beneficial for people to invest in tenge assets than in foreign-currency assets. Accordingly, a one-percentage-point reduction will not alter the attractiveness of tenge assets, including bank deposits, corporate bonds, and government and quasi-government debt instruments. Therefore, we expect demand for tenge assets to remain at its current level, which means the exchange rate is unlikely to change significantly," Suleimenov said.

This is largely a matter of demand. At the beginning of the year, demand is usually lower because it takes time for budget funds to reach programme administrators and for them to announce various tenders. As a result, there is little demand for foreign currency during that period. Around this time of year, however, tender winners have typically been determined, and market participants begin purchasing US dollars. This seasonality is always present," he said.

Oil prices are rising. Prices reflected in the metals index have also increased. In terms of foreign-currency earnings entering the market, the situation is positive. Unless there are external shocks, I see no grounds for any weakening of the national currency," the National Bank governor said.