Kazakh President Kassym-Jomart Tokayev held a meeting to address the worsening global market situation amid the collapse of energy and commodity prices on global markets due to tariff conflicts, the presidential press service said.
At the meeting, attended by the Prime Minister Olzhas Bektenov, the Governor of the National Bank Timur Suleimenov, and other senior officials, President Tokayev instructed to accelerate drafting the government's plan of action to address the financial and economic crisis, with aim to prevent economic slowdown and a decline in investment flows.
"The President emphasized that, despite the challenging economic conditions, the priorities he outlined for the country's development—such as major infrastructure projects, digitalization, the advancement of artificial intelligence, and the modernization of agriculture and the transport and logistics sectors—will still be implemented," - president's press service reported.
President Tokayev is expected to convene a special meeting on this matter next week.
On Wednesday, Serik Zhumangarin, Deputy Prime Minister and Minister of National Economy, said that Kazakhstan’s government was assessing various scenarios in response to potential fluctuations in oil prices.
““We have three development scenarios. Currently, we are approaching the pessimistic scenario with oil prices at $60 per barrel. This week, we began calculations for scenarios involving prices dropping to $55 and $50 per barrel," - said Zhumangarin and added that the government had "clear understanding on what needs to be cut and what should remain unaffected."
The Deputy Prime Minister also highlighted the importance of infrastructure development and job creation during a crisis.
He suggested that the state may once again turn to the National Fund, stating, “the National Fund was created for such situations, particularly during times of crisis."
Brent oil prices reached a four-year low on Wednesday, falling below $60 per barrel, after standing at approximately $75 at the beginning of April.
The sharp decline in oil prices, attributed to tensions surrounding U.S. tariff decisions, resulted in a day-on-day drop of around 2.3% on Wednesday and a 20% decrease since early April.
Kazakhstan and Azerbaijan are set to conduct joint naval exercises, "Caspian Breeze – 2025", in the Kazakh sector of the Caspian Sea near the port city of Aktau.
On April 11, Foreign Minister Sergey Lavrov will participate in the CIS Foreign Ministers Council and the 8th meeting of Russian and Central Asian foreign ministers—Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Both events will be hosted in Almaty, Kazakhstan.
Azerbaijan, Kazakhstan, and Uzbekistan have partnered with regional banks to launch a clean energy project connecting Central Asia to Europe via the Caspian Sea.
President Trump’s new tariffs hit 185 countries, with Kazakhstan facing the highest rate at 27%. Kazakhstan now seeks talks with U.S. officials to ease the impact.
Eight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up gradual production hikes.
The 4th session of the Permanent Forum on People of African Descent began this week at the UN headquarters in New York, bringing renewed international scrutiny to France and the Netherlands over their continued control of several overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 10th, covering the latest developments you need to know.
The death toll from the catastrophic roof collapse at a nightclub in Santo Domingo has risen to 98, with more than 160 people injured, according to Dominican authorities.
A quiet Thursday afternoon at St. Peter’s Basilica turned into something extraordinary, as visitors caught a rare glimpse of Pope Francis — not in his familiar white papal robes, but dressed in black trousers and a striped blanket.
In a dramatic about-face, U.S. President Donald Trump on Wednesday announced a 90-day pause on newly implemented tariffs for dozens of countries — a move that eased market turmoil but further escalated tensions with China.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
Wall Street’s main indexes surged on Monday, driven by gains in technology stocks, after the White House announced exemptions for smartphones and computers from new tariffs on Chinese imports. However, additional levies on semiconductors are still expected later this week.
The Russian government has approved the country’s energy strategy through 2050. Oil production is expected to rise to 540 million tons, while gas production is projected to reach 1.107 trillion cubic meters by that year.
Stock markets in Asia saw a boost on Monday, driven by optimism over tariff exemptions granted to electronics. This relief sparked gains in tech stocks, while investors in South Korea and Taiwan turned their focus to trade issues and semiconductor developments.
To facilitate Ukraine's access to global markets by ensuring smoother transit through EU countries, the EU and Ukraine have extended their Road Transport Agreement until December 31, 2025.
The 4th session of the Permanent Forum on People of African Descent began this week at the UN headquarters in New York, bringing renewed international scrutiny to France and the Netherlands over their continued control of several overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
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