Current Account Deficit To Narrow

April 2008 | Ratings Update

The Kazakh government is expected to conclude on April 8 the discussion of the planned export duty for oil which should become effective as early as mid-2008, with the aim to stabilize domestic oil supplies. This follows a succession of measures aimed at boosting state influence over strategic sectors of the economy. The planned oil duty, likely to amount to US$109 per tonne, will apply to 27mn tonnes of oil exports, around 40% of last year's production. Even though Western oil and gas companies' existing operations should not be affected by the duty, the increasing intervention of the government in

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