Kazakhstan Weekly

Politics & Macro Economics

Monday January 10, 2000

PM Confirms The 2000 Privatisation Programme

The government of Kazakhstan will continue to implement the privatisation programme in 2000.  “Neither a roll-back, nor a slowing down in the pace of privatisation can be allowed,” Kazakh Prime Minister Kasymzhomart Tokayev told the cabinet at its first meeting this year on Tuesday. He confirmed that the privatisation of state property will be continued this year and that the blue chips programme will be implemented. He said that Kazakhstan is expected to gain over USD400 million from privatisation in 2000.

Kazakhstan Weekly

Politics & Macro Economics

Monday January 17, 2000

Tenge Drops 64.6% in 1999

The exchange rate of Kazakhstan’s national currency, the tenge, dropped 64.6% in 1999 (10.7% in 1998) to 138.25 tenge/USD 1 by the end of the year, the National Bank (NB) of Kazakhstan’s Chairman, Grigory Marchenko, said at a press conference. The tenge suffered its worst drop in value (30.3%) after it was allowed to float freely against the U.S. dollar on 5 April 1999. The exchange rate was 88.3 tenge/USD 1 at the time.  Marchenko said that in the following months the soft decline of the tenge was the result of a relative currency exchange balance.

Kazakhstan Weekly

Politics & Macro Economics

Monday January 24, 2000

Deputy PM Unveils Economic Forecast for 2000

According to international experts, Kazakhstan’s gross domestic product (GDP) will equal nearly USD 1,000 per capita in the year 2000, Interfax reported, quoting a speech by Deputy Prime Minister Erzhan Utembaev. The number, equivalent to about USD 15 billion, is “a bad figure”, according to Utembaev.

Kazakhstan Weekly

Politics & Macro Economics

Monday February 7, 2000

Gross Gold and Currency Reserves Fall Slightly

Kazakhstan’s gross gold and currency reserves fell by USD 5.3 million (0.3%) between 14 January and 31 January, the National Bank (NB) reported. Reserves totalled USD 1.937 billion at the end of last month. This figure includes USD 1.428 billion in hard currency reserves, a drop of USD 6.9 million over the second half of January.