In September, Kazakhstan’s foreign reserves contracted by 6.48% m/m (down by 14.57% ytd) to USD 24.2bn, the National Bank of Kazakhstan (NBK) has announced. Fx reserves amounted to USD 18.3bn as of Oct 1, while gold reserves amounted to USD 5.9bn. Net international reserves in September declined by 6.64% m/m (down by 14.85% ytd) to USD 23.6bn. The assets of the National Fund of Kazakhstan in September compared with the previous month increased by 1% (up by 15.32 % ytd) and amounted to USD 66.6bn.
Lukoil is expanding its oil and gas operations in Kazakhstan, the Moscow-based Kommersant newspaper reported on April 8, amid limited overseas opportunities for the company because of Russia’s ... more
Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more
Engineers have commenced the $6.3mn and three-month reconstruction of the 75-kilometre (47-mile) cross-border railway line that links Uzbekistan and Afghanistan, ... more