Kazakhstan’s current account surplus amounted to USD 7.72bn in 2012 (3.8% of GDP), the National Bank of Kazakhstan has informed. Still, the result is lower than in 2011, when current account surplus reached USD 12.28bn. Initial data put this year current account surplus at USD 8.8bn. In Q1/12 surplus made up USD 3.24bn, in Q2/12 – USD 3.97bn, in Q3/12 a deficit of USD 290mn was observed due to lower oil prices at the world market. In Q4/12 current account came back to positive result reaching USD 797mn. The foreign trade goods balance was positive and made up USD 44.67bn. In case of services, a deficit of USD 7.76bn was seen. Investment income balance was also negative and stood at USD 26.26bn. Current transfer deficit reached USD 1.01bn and portfolio while direct investment balance was positive and stood at USD 12.44bn. Portfolio investment balance showed a deficit of USD 17.71bn. The balance of medium and long-term loans and credits was positive and reached USD 4.34bn. Kazakhstan remains vulnerable to external factors (oil prices).
The deal under which China’s troubled CEFC will take over 51% in Romanian unit KazMunayGas International (KMGI) from Kazakhstan's KazMunayGas (KMG) has not been cancelled but has been postponed ... more
A Kazakh court on March 14 sentenced former Kazakh Economy Minister Kuandyk Bishimbayev to 10 years in prison after he was found guilty of bribery and embezzlement. Judge Adilkhan ... more
Russia’s Energy Minister Aleksander Novak has said Iran could join the Eurasian Economic Union (EEU) by May, RT reported on March 10. Tehran has repeatedly lobbied Moscow over the past year to ... more