President approves National Bank’s annual report
Images | Akorda
Head of State Kassym-Jomart Tokayev has held a meeting in Akorda for discussing the National Bank’s 2022 annual report, Kazinform learned from the President’s press service.
Those attending the meeting were Governor of the National Bank Galymzhan Pirmatov, First Deputy Chief of the President’s Executive Office Timur Suleimenov, Deputy Prime Minister - Minister of Finance Yerulan Zhamaubaev, Chairman of the Agency for Development and Regulation of the Financial Market Madina Abylkassymova, and Minister of National Economy Alibek Kuantyrov.
Kassym-Jomart Tokayev was reported about the results of implementation of the monetary policy for 2020, the measures of ensuring financial stability and the state of the National Bank’s gold and currency reserves as well as the National Fund’s assets.
The President was informed that dollarization in 2022 reduced to 31.6%. The volume of loans extended by the second-tier banks rose by 23.3% and reached 22.8 trillion tenge, including 9.6 trillion tenge of business loans (+13.9%).
According to the National Bank, gross international reserves in 2022 went up by $1.2 billion and made $90.8 billion, including $35.1 billion of gold and currency reserves and $55.1 billion of the National Bank assets. The return on pension assets of the Unified National Pension Fund since the consolidation in 2014 amounted to 9.33% in annual terms.
Fitch Ratings and S&P Global Ratings confirmed Kazakhstan's sovereign rating at BBB with a stable outlook, the report reads.
The Head of State noted that inflation, macroeconomic and energy instability remained the main problems of the economy.
The international organizations predict a significant slowdown in global growth from 6.2% in 2021 to 3.4% according to the IMF and increased cost pressure. All this affects the economic development of our country and indicates the need for more coordinated and efficient work of the Government, the National Bank and other governmental structures", - Tokayev stressed.
Following the discussion, the President approved the National Bank’s annual report.
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Kazakh PM holds operational meeting over situation in Ukraine
Images | primeminister.kz
Kazakh Prime Minister Olzhas Bektenov held an operational meeting today to fulfill the tasks of the Head of State to take urgent measures in order to ensure security at the key military and civilian objects over the situation in Ukraine involving the Defence, Interior, Emergencies, Foreign Affairs, Healthcare, Transport, Energy, Industry and Construction, National Economy, and Finance Ministries, Kazinform news Agency learnt from the Government’s press service.
Kazakh Defence Minister Ruslan Zhaksylykov reported on the work to ensure the protection of the strategic and infrastructure objects. The Prime Minister set tasks to enhance the work of state bodies. Maintenance of stability, law and order, transport communication and critical infrastructure safety were prioritized at the meeting.
The Prime Minister assigned authorities to keep the execution of the Kazakh President’s tasks under control, to ensure security and to report on developments.
As earlier reported, Head of State Kassym-Jomart Tokayev gave the Prime Minister, the head of the Presidential Administration, heads of national security, defence and law enforcement agencies, and governors a task to take urgent measures to ensure the security of the basic military and civilian objects over the escalation of the situation in Ukraine.
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Prime Ministers of Kazakhstan and Belarus discuss trade and economic cooperation issues
Images | primeminister.kz
Prime Minister of Kazakhstan Olzhas Bektenov and Prime Minister of Belarus Roman Golovchenko held talks in Minsk. They discussed the implementation of agreements reached at the level of the Heads of State on the development of trade and economic, cultural and humanitarian cooperation. Attention was paid to industrial cooperation, agriculture with emphasis on projects on deep processing of wheat, construction industry, transport, IT-sector, tourism, primeminister.kz reports.
The volume of mutual trade between Kazakhstan and Belarus for 8 months of this year amounted to $600 million. Flour products from Kazakhstan (10.2% share in exports), etc. are in demand in the Belarusian market. Positive dynamics is also observed in the sphere of road transport: for 9 months of this year the volumes increased by 19% and reached 450.6 thousand tonnes.
The governments of Kazakhstan and Belarus are working together to develop industrial cooperation. The total pool includes 14 projects worth $277.5 million with the creation of 1.8 thousand jobs. Of these, 11 joint ventures have already been launched in the regions of Kazakhstan for more than $200 million and 1.6 thousand jobs have been created. The factories assemble tractors, grain and forage harvesters, and trailed agricultural machinery. Three more projects are under implementation.
Special attention was paid to the export potential of Kazakhstani companies that manufacture railway products and have an opportunity to supply to Belarus the fasteners of sleepers with rails, fitting platforms, railway wheels, units and assemblies.
The talks resulted in the signing of a number of bilateral documents, including: Roadmap between the governments of Kazakhstan and Belarus on the development of trade and economic cooperation for 2025-2029, aimed at replenishing the pool of joint projects and establishing closer ties between the business community; Agreement on cooperation between JSC NC Kazakh Tourism and the National Agency for Tourism of the Republic of Belarus, providing for the exchange of experience in the field of ecological, skiing, rural, medical and children's tourism; Plan of measures for interaction in the field of cultural and humanitarian cooperation n
A visit to the Hi-Tech Park was also held in Minsk, where Olzhas Bektenov was presented digital projects being implemented in the areas of cloud technologies, cyber security, financial sector, etc.
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Central Asia is facing multiple climate-related risks, President Tokayev
Images | Akorda
President of Kazakhstan Kassym-Jomart Tokayev addressed the World Leaders Climate Action Summit held within the 29th Conference of the Parties to the UN Framework Convention on Climate Change, Akorda reports.
Kazakh leader Tokayev was the first to take the floor following the opening of a plenary session at the COP29 U.N. Climate Summit.
In his speech, the Kazakh President reaffirmed Kazakhstan’s commitment to global climate agenda and highlighted the importance of international cooperation in the fight against climate change, recalling the country’s ambitious goal of achieving carbon neutrality by 2060.
President Tokayev pointed out that in order to achieve the tasks set it’s necessary to ensure access to predictable financing and latest technologies. The Kazakh leader stated that under the New Collective Quantified Goal it is important to draw special attention to regions, that are most vulnerable to climate change, including developing countries with no access to the sea.
Despite the fact that Central Asia is responsible for a mere 1% of total global emissions, the region is facing multiple climate-related risks. In order to increase the efficiency of the measures taken to address climate change, it is important to actively use advanced technologies such as AI, satellite monitoring as well as other digital instruments, allowing for early prevention and greater management of water and land resources, said the President.
Earlier it was reported that at the opening of the COP29 Climate Action Summit in Baku, Azerbaijan, UN Secretary-General António Guterres issued a powerful message on the urgency of climate action.
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President Tokayev arrives at Baku Olympic Stadium to attend COP29 World Climate Action Summit
Images | Akorda
President Kassym-Jomart Tokayev has arrived at the Baku Olympic Stadium to participate in the COP29 World Climate Action Summit, Kazinform News Agency learned from the Akorda press service.
The Head of State was greeted by President of Azerbaijan Ilham Aliyev and UN Secretary General António Guterres.
The Kazakh President will be the first to address the plenary session of the COP29 Summit, the press service of Akorda notes.
Recall that Kassym-Jomart Tokayev arrived in Baku on November 11 for a working visit, to participate in the COP29 World Climate Action Summit ongoing under the aegis of the UN Climate Change Conference.
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Head of State meets ADB President Masatsugu Asakawa
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Head of State Kassym-Jomart Tokayev has met today President of the Asian Development Bank Masatsugu Asakawa who arrived in Astana to participate in the 23rd Ministerial Conference of the Central Asia Regional Economic Cooperation (CAREC) Program, Kazinform News Agency learned from the Akorda press service.
Kassym-Jomart Tokayev congratulated Masatsugu Asakawa on the 30th anniversary of the Kazakhstan-ADB fruitful cooperation.
The President said that Kazakhstan highly appreciates strategic character of interaction with the ADB and its contribution to the implementation of major infrastructure projects and strengthening the national financial system.
From 1994 to 2024, the ADB has financed $7 billion worth projects in Kazakhstan. In particular, the ADB was involved in the construction of the Western Europe- Western China international transport corridor and reconstruction of Aktobe - Kandyagash highway.
The Head of State emphasized the importance of further joint activity in the new priority areas. According to him, Kazakhstan continues working on economic liberalization, improvement of investment climate and creation of conditions to unlock the country’s economic potential. Decarbonization of the economy was named by the President as one of promising areas.
In turn, Masatsugu Asakawa said that the ADB welcomes Kazakhstan’s success in economic reforms and sustainable development. He assured that the ADB is ready to continue close cooperation, including participation in major projects, aimed at infrastructure modernization, social sphere improvement and investment climate strengthening.
An agreement on financing the Kyzylorda-Zhezkazgan highway construction project is set to be signed during the ADB President’s visit to Kazakhstan.
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Olzhas Bektenov discusses investment cooperation with ADB head and representatives of CAREC countries
Images | primeminister.kz
On behalf of the Head of State, Prime Minister Olzhas Bektenov took part in the 23rd Ministerial Conference of the Central Asia Regional Economic Cooperation Programme (CAREC), held in Astana under the chairmanship of Kazakhstan. The goal is to expand interaction among the Programme's member countries and international financial institutions in shaping the integrated and sustainable development of the Central Asian region, primeminister.kz reports.
The CAREC Program is an initiative of the Asian Development Bank and is implemented in partnership with leading international financial institutions. The conference was attended by Asian Development Bank President Masatsugu Asakawa, CAREC Institute Director Kabir Jurazoda, European Commission Director for the Middle East, Asia and the Pacific Péteris Ustubes, representatives of the International Monetary Fund, World Bank, Islamic Development Bank, and other financial institutions, as well as government delegations from South Korea, Japan, Uzbekistan, Kyrgyzstan, Azerbaijan, Georgia, Mongolia, Pakistan, Tajikistan, and Turkmenistan.
Interaction of the states in the field of economic and financial stability, infrastructure development, trade, energy, water resources, decarbonisation, etc. was discussed.
Prime Minister Olzhas Bektenov noted the relevance of the Programme for the Central Asian region. For more than 20 years, about $51 billion has been invested in the region, of which over $9 billion has been directed to projects in Kazakhstan.
We will continue to work closely with international financial institutions and CAREC member countries to achieve common objectives. We aim to develop the agro-industrial complex with a focus on deep processing and increasing the share of processed products, actively changing the structure of exports and increasing their volumes. We are also interested in implementing large-scale infrastructure projects to ensure transport connectivity and energy sustainability of the Central Asian states. I urge the countries of the region and international financial organisations to join efforts to implement joint projects," Olzhas Bektenov stressed.
In turn, President of the Asian Development Bank Masatsugu Asakawa noted that CAREC sees taking decisive action to combat climate change, building a sustainable infrastructure with early warning systems, as well as the development of digital transformation and innovation among the priorities.
The conference focused on initiatives aimed at developing human capital and improving the quality of life of the population.
At the end, an agreement on the CAREC Climate and Sustainable Development Project Preparation Facility was signed.
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Tokayev meets Russian FM Sergey Lavrov
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President of Kazakhstan Kassym-Jomart Tokayev held a meeting with Minister of Foreign Affairs of Russia Sergey Lavrov, who arrived in Astana for a working visit, Akorda reports.
Greeting the Russian Foreign Minister, Tokayev highlighted the dynamic development of bilateral cooperation in a spirit of friendship, good-neighborliness and strategic partnership. As was noted, this is largely due to the regular political dialogue at the highest level as well as the coordinated work of the governments and parliaments of both countries.
During the meeting, special attention was attached to the preparation for the upcoming visit of Russian President Putin to Kazakhstan.
We’re seriously preparing for this visit. We believe that this is a landmark event in our interstate relationships. Our relations are exemplary and evolving dynamically. The upcoming visit is to give an additional impetus to our strategic partnership and alliance, said the President.
In turn, Lavrov reassured that all the key issues of multifaceted cooperation between Russia and Kazakhstan, including the agenda of the upcoming visit, are being elaborated in detail at the level of governments and foreign ministries of both countries.
The Russian Foreign Minister expressed gratitude to President Tokayev for holding the scientific and practical conference in Astana, marking 80 years since the establishment of the Moscow State Institute of International Relations (MGIMO), which drew a wide response in diplomatic circles and media.
The interlocutors discussed the current issues of regional and international agenda, including interaction within multilateral structures and integration associations.
Earlier it was reported Russian Foreign Minister Sergey Lavrov arrived in Astana on a two-day working visit.
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