Kazakhstan cut its forecast of industrial production to 3.4% y/y this year from original 3.8% y/y, according to the government answer to “Reuters” question. In 2014, industrial output is expected to grow by 2.7% y/y, down from earlier projected 3.4% y/y. The Economy Ministry blamed weaker export demand for Kazakh commodities. Coal production is expected to decrease by 4.6% y/y this year, ferrous metals – by 13% and oil refining by 3.7%, the ministry has added. In Jan-Sep, industrial production expanded by 2.1% y/y against 0.5% y/y reported in the same period of previous year.
The Kazakh government keeps its GDP growth forecast unchanged at 6% y/y. However, the recent change in industrial output projection may force the authorities to revise it downward. Recently, the IMF cut Kazakhstan’s GDP forecast to 5% from 5.25% for 2013.
Related Articles
Unusually intense heatwave hit Central Asia in March, may impact crop yields
Central Asia experienced an unusually intense heatwave in March that could have an impact on agricultural crop yields, according to an April 4 ... more
Russia’s expulsions of migrants reportedly nearly double in 2024 to around 80,000
Russia in 2024 expelled more than 80,000 migrants for immigration rule violations, compared to 44,200 in 2023 and 26,600 in 2022, TASS reported on January 8. The Russian state news agency cited a ... more
Kazakhstan’s transit of Russian oil to Uzbekistan and China amounts to 10.2mn tonnes in 2024
Russia’s transit of oil through Kazakhstan’s pipeline system, operated by main pipeline operator KazTransOil, to China and Uzbekistan totalled 10.21mn tonnes in 2024, ... more