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Economy in Central Asia

  • Economic headwinds look set to revive African M&A

    EGYPT, 2017/05/07 Two-thousand and sixteen was relatively quiet for African banking markets on the merger and acquisition (M&A) front. In most of the continent’s larger economies, inclunding Nigeria and South Africa, major transaction announcements were absent despite the challenging economic conditions of recent times. Buy-ins to African banks from European and Middle Eastern players were as well low, according to data from Mergermarket. This contrasts sharply from 2015 at the same time as buyers from Norway, Kuwait and the UK all made significant acquisitions on the continent. These deals were complemented by several bold intra-regional transactions, inclunding Kenya’s Equity Group acquiring a stake in a microfinance provider in the Democratic Republic of the Congo and Morocco’s Banque Centrale Populaire buying a position in BIA Niger.

  • Economic headwinds look set to revive African M&A

    EGYPT, 2017/05/07 Two-thousand and sixteen was relatively quiet for African banking markets on the merger and acquisition (M&A) front. In most of the continent’s larger economies, inclunding Nigeria and South Africa, major transaction announcements were absent despite the challenging economic conditions of recent times. Buy-ins to African banks from European and Middle Eastern players were as well low, according to data from Mergermarket. This contrasts sharply from 2015 at the same time as buyers from Norway, Kuwait and the UK all made significant acquisitions on the continent. These deals were complemented by several bold intra-regional transactions, inclunding Kenya’s Equity Group acquiring a stake in a microfinance provider in the Democratic Republic of the Congo and Morocco’s Banque Centrale Populaire buying a position in BIA Niger.

  • Central Asian countries, EU eye economic development

    AZERBAIJAN, 2016/10/06 Foreign ministers of the five Central Asian nations and the EU discussed the national and prospects of cooperation with a focus on various aspects of economic development, the press service of the Uzbek Foreign Ministry reported. The ministerial conference “Central Asia-European Union” was held Oct. 4 in Brussels. Foreign ministers of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan took part in the conference.

  • IMF cuts GDP growth forecast for Kazakhstan

    KAZAKHSTAN, 2016/10/06 The International Monetary Fund (IMF) decreased its estimate for Kazakhstan’s GDP increase in 2016 and 2017. Kazakhstan’s economy will arrangement by 0.8 % in 2016 amid a drop in export revenues, according to the IMF "World Economic Outlook" statement published in October. Increase in Kazakhstan is projected to rise gradually, supported by increased hydrocarbon production, inclunding some recovery in oil prices and additional competitive currency. In 2017 Kazakhstan’s real GDP increase is expected to reach 0.6 % and in 2021 – 4.6 %, according to the IMF.

  • ADB supporting diversification of Turkmen economy

    TURKMENISTAN, 2016/09/23 President of the Asian Development Bank (ADB) Takehiko Nakao met with Turkmenistan’s President Gurbanguly Berdimuhamedov to discuss the country’s development priorities and reiterate support for the government’s efforts to diversify the economy, said the ADB in a message. Nakao’s initial visit to Turkmenistan as well includes meetings with Deputy Chairmen of the Cabinet of Ministers in charge of foreign affairs, economy and finance, hydrocarbon sector, electricity and construction sectors, and the Chairman of the Board of the Central Bank of Turkmenistan and ADB Governor.

  • Kazakhstan gets over $20M from privatization program

    KAZAKHSTAN, 2016/09/23 Kazakh national budget got 6.99 billion tenges ($20.6 million) from the deals reached within the 2014-2016 privatization program as of September 20, Kazakh Finance ministry reported. The regional budgets received 4.83 billion tenges (339.4 tenges = $1) from the sale of its assets to private investors in this period, national holdings got 68.06 billion tenges, the socio-entrepreneurial corporations received 6.3 billion tenges.

  • World Bank forecasts slow recovery of Kazakh economy

    KAZAKHSTAN, 2016/07/24 The World Bank forecasts slow recovery of Kazakhstan economy, the bank’s statement called “Kazakhstan: A Long Road to Recovery,” published on July 22 said. “Increase is projected to recover gradually over the medium term, but the economy will continue to face substantial headwinds,” the statement said. Under the baseline scenario, GDP increase is expected to remain near zero in 2016, before rising to 1.9 % in 2017 and 3.7 % in 2018, as production commences at the Kashagan oilfield, world oil prices rebound, renewed consumer and investor confidence supports the recovery of the non-oil sectors, and inflation eases to an average of 6-8 % per year. Meanwhile, both fiscal and external conditions are expected to improve.

  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.

  • Kazakhstan's economy is likely worse than it was predicted

    KAZAKHSTAN, 2015/11/28   The situation in Kazakhstan's economy is likely worse than it was predicted at the beginning of the year, Dosym Satpayev, the Director of the Kazakh Risk Assessment Group, believes. "Since the end of last year, the Kazakh government is trying to prevent rising unemployment. The government has signed memorandums with large Kazakh enterprises that they will guarantee the preservation of jobs, or in the case of layoff of an employee, they will search an extra job for him/her," the expert told Trend on November 25. On November 23, Kazakh Energy Minister Vladimir Shkolnik suggested that additional than 40,000 employees of the oil and gas sector of the country could face layoffs, and wages will be reduced by a third if oil prices remain at a low level in 2016. Next year, the major international financial institutions expect the average price of Brent at $55-$58 per barrel.

  • Tajikistans economic growth to slow in 2015

    TAJIKISTAN , 2015/11/18 The World Bank predicts Tajikistan’s economic growth to slow to an estimated 4.2 percent in 2015. The bank said in its new bi-annual Tajikistan Economic Update that it is due to the decline in remittances from Russia, weak global demand and low prices for the country’s key export commodities such as aluminum and cotton. This Central Asian country's economic growth was 6.7 percent in 2014. The fall in remittances and slowdown of economic growth has had a strong impact on Tajikistan's income, which is expected to reach 10 percent in 2015.
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