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	<title>Last news - Сentralasianlight.org</title>
	<link>https://centralasianlight.org/rss/</link>
	<description>Economy</description>
	<pubDate>Wed, 15 Apr 2026 06:36:35 +0600</pubDate>
	<copyright>centralasianlight.org</copyright>
	<ttl>60</ttl>
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		<title>IMF Urged Uzbekistan to Limit Public Spending Growth in 2026</title>
		<description><![CDATA[The International Monetary Fund mission recommended that Uzbekistan curb public spending growth in 2026 to avoid exacerbating inflationary pressures. This was stated in the final statement following the consultations, Gazeta.uz reports.

The Fund positively assessed the reduction of the budget deficit to 2.1% in 2025, but warned of the risk of its widening with increased spending. The IMF noted that in the event of a possible revenue overshoot, including due to high gold prices, additional funds should not be allocated to expanding budget spending.

The organization also recommended abandoning broad subsidies and focusing on targeted support for vulnerable groups.

Priorities include improving spending efficiency, including public procurement reform, reducing support for state-owned enterprises, and streamlining budget programs.

Furthermore, the IMF proposed introducing a new fiscal benchmark starting in 2027—a deficit indicator excluding revenues from natural resources.]]></description>
		<pubDate>Tue, 14 Apr 2026 18:26:02 +0600</pubDate>
		<link>https://centralasianlight.org/news/imf-urged-uzbekistan-to-limit-public-spending-growth-in-2026/</link>

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		<title>Oil and Gas Production in Kazakhstan Fell by Almost 20%</title>
		<description><![CDATA[ASTANA - Oil and gas production in Kazakhstan in the first quarter of 2026 decreased by almost 20% compared to the same period last year. This was announced by Kazakh Energy Minister Yerlan Akkenzhenov at a government meeting, Kazinform reports.

According to him, oil and gas condensate production amounted to 19.7 million tons (80.2% of 2025 levels), while exports totaled 15.3 million tons (78.5%). Gas production reached 13.6 billion cubic meters (84.9%), and marketable gas production reached 6.1 billion cubic meters (83.6%). Domestic gas consumption increased to 8.8 billion cubic meters (+8.6%), reflecting growing demand from industry and the population. Oil product production remained stable at 3.67 million tons.

The department attributes the decline in production figures to scheduled maintenance work at major fields, including Karachaganak, where a project to install an additional compressor to maintain production is underway. External factors,]]></description>
		<pubDate>Tue, 14 Apr 2026 18:09:14 +0600</pubDate>
		<link>https://centralasianlight.org/news/oil-and-gas-production-in-kazakhstan-fell-by-almost-20/</link>

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		<title>$40 Mln Energy Project for Kyrgyzstan Launched in Washington</title>
		<description><![CDATA[A major energy project of strategic importance for Kyrgyzstan has been launched in Washington, D.C., the US capital. The initiative is being implemented with the support of the World Bank and the International Development Association as part of the REMIT program, which aims to modernize the energy sector and integrate the country into the Central Asian regional electricity market, Akchabar.kg reports.

The program envisions the creation of an open electricity market between Kyrgyzstan, Kazakhstan, Uzbekistan, and Tajikistan. Plans include the introduction of modern trading mechanisms, including a day-ahead market model, digitalization of energy systems, and the expansion of renewable energy sources.

In the first phase, Kyrgyzstan will receive $40 million in funding. The funds will be used to modernize the 220 kV Torobaev and Kristall substations, as well as the construction of the Kristall-Yulduz transmission line to the border with Uzbekistan. The funding will also cover feasibility studies, design,]]></description>
		<pubDate>Tue, 14 Apr 2026 17:45:09 +0600</pubDate>
		<link>https://centralasianlight.org/news/40-mln-energy-project-for-kyrgyzstan-launched-in-washington/</link>

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		<title>Kazakhstan&apos;s External Debt Reaches $182 Billion</title>
		<description><![CDATA[As of January 1, 2026, Kazakhstan's external debt amounted to $181.8 billion, an increase of $17.2 billion over 2025, according to statistics from the National Bank of Kazakhstan. Moreover, the increase in the last quarter was $10.4 billion, reports Kursiv.kz.

The increase in external debt was due to balance of payments transactions of $12.8 billion, as well as exchange rate, value, and other changes of $4.3 billion, according to the National Bank of Kazakhstan.

The structure of external debt is as follows:


	Government external debt accounts for $18.6 billion (+$2.4 billion over the quarter);
	state-controlled banks and organizations – $25.2 billion (+$4.4 billion over the quarter);
	private sector – $138 billion (+$3.6 billion);
	state-guaranteed debt – $3.3 billion (+$100 million).


The bulk of external debt—88.1%—is long-term liabilities (over one year).]]></description>
		<pubDate>Mon, 13 Apr 2026 19:18:11 +0600</pubDate>
		<link>https://centralasianlight.org/news/kazakhstans-external-debt-reaches-182-billion/</link>

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		<title>IMF Warned Kyrgyzstan of Risk of Economic Overheating</title>
		<description><![CDATA[BISHKEK - Kyrgyzstan's economy is demonstrating robust growth but faces risks of overheating due to high inflation and active lending, according to the final statement of the International Monetary Fund (IMF) mission that worked in the country from March 18 to April 1, 2026, 24.kg reports.

Since 2022, economic growth has been driven by expanding trade, an influx of remittances, and a construction boom. This has increased household incomes but pushed inflation above the National Bank's target range (5-7%). IMF experts expect prices to remain high until 2027 and to begin to decline only if macroeconomic policy is adjusted.

Rapid lending growth, significant wage increases, and increased liquidity indicate signs of economic overheating. Growth is projected to slow as indicators normalize, although it will remain above potential due to large infrastructure projects.

In 2026, the budget will shift into deficit after surpluses in 2023–2025 due to rising public sector wages and increased capital expenditures.]]></description>
		<pubDate>Fri, 10 Apr 2026 18:12:34 +0600</pubDate>
		<link>https://centralasianlight.org/news/imf-warned-kyrgyzstan-of-risk-of-economic-overheating/</link>

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		<title>Volume of Cashless Payments in Turkmenistan Exceeded $1.76 Billion</title>
		<description><![CDATA[The total volume of non-cash payments in Turkmenistan amounted to over 3.25 billion ($930 mln) manat for the period from January 1 to March 1, 2026, according to the Banking Bulletin, published by the Central Bank of Turkmenistan, reports Turkmenportal.com.

According to the regulator's statistics, the total volume of non-cash transactions, including payments through payment terminals and e-commerce, reached 3,252,874,312 manat.

Payments through POS terminals and other payment devices accounted for the majority of non-cash transactions, amounting to 2.7 billion manat (83% of the total). E-commerce transactions accounted for 551.6 million manat (17%).

Daikhanbank led the way in non-cash transactions through terminals, with a volume of 928.2 million manat. Turkmenistan Bank (436.7 million manat) and Turkmenbashi Bank (384.4 million manat) also demonstrated strong results.

Halkbank leads the e-commerce segment with a transaction volume of 468.5 million manat.]]></description>
		<pubDate>Thu, 09 Apr 2026 20:07:35 +0600</pubDate>
		<link>https://centralasianlight.org/news/volume-of-cashless-payments-in-turkmenistan-exceeded-1.76-billion/</link>

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		<title>Kazakhstan&apos;s Budget Grew by 16.9% While Inflation Slowed</title>
		<description><![CDATA[ASTANA - In the first quarter of 2026, Kazakhstan recorded a strengthening of budget revenues, while inflation slowed. According to the Ministry of National Economy, the state treasury (excluding transfers) increased by 6,444.9 billion tenge ($13.5 billion), compared to a planned 6,176.2 billion ($12.9 billion). Execution was 104.4%, 16.9% higher than the same period in 2025, Forbes.kz reports.

The national budget was executed by 101.8%, with 4,159.4 billion tenge received. The main increase was driven by tax revenues, which increased by 31.5% to 4,077.6 billion tenge, thanks to favorable export prices and improved administration. Revenues from the mineral extraction tax increased by 35.7%, VAT on imports by 24.2%, and corporate income tax by 16.9%.

The number of official taxpayers is growing: 392,000 self-employed individuals and 10,000 new VAT payers have registered since the beginning of the year. Local budgets also showed growth of 3.1%, collecting 2,285.5 billion tenge.

Amid stable revenues,]]></description>
		<pubDate>Wed, 08 Apr 2026 22:59:10 +0600</pubDate>
		<link>https://centralasianlight.org/news/kazakhstans-budget-grew-by-16.9-while-inflation-slowed/</link>

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		<title>Uzbekistan&apos;s Gold and Foreign Exchange Reserves Fell by $8.1 Billion</title>
		<description><![CDATA[TASHKENT - Uzbekistan's gold and foreign exchange reserves totaled $68.99 billion as of April 1, 2026, declining for the first time since July 2025, according to data from the Central Bank of Uzbekistan, Gazeta.uz reports.

In March, international reserves decreased by $8.1 billion (-10.5%), virtually eliminating the increase since the beginning of the year. The key factor was the decline in global gold prices: from $5,174.1 to $4,553.95 per ounce (-12%), which reduced the reserve estimate by $8.3 billion.

Meanwhile, the physical volume of gold in reserves has increased for the sixth consecutive month. In March, the Central Bank acquired an additional 280,000 troy ounces (8.7 tonnes), bringing its total reserves to a record 13.36 million ounces (415.5 tonnes). However, due to falling prices, the value of gold reserves decreased by $6.82 billion to $60.85 billion. Gold accounts for 88.2% of the country's total reserves.

The foreign exchange component of reserves decreased by $1.27 billion to $7.57 billion,]]></description>
		<pubDate>Wed, 08 Apr 2026 22:46:15 +0600</pubDate>
		<link>https://centralasianlight.org/news/uzbekistans-gold-and-foreign-exchange-reserves-ffell-by-8.1-billion/</link>

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		<title>Kyrgyzstan&apos;s Budget Posted a Surplus of Almost $881 Million</title>
		<description><![CDATA[Kyrgyzstan's state budget showed a significant "margin of safety" at the beginning of 2026. In January and February, the country's revenues significantly exceeded expenditures, resulting in a surplus of almost 73 billion soms (almost $881 million), reports Akchabar.kg.

Compared to last year, the difference is significant. For the same two months of 2025, the surplus was approximately 49 billion soms. This means it has now grown by almost 24 billion soms—approximately 1.5 times.

This is due to increased revenues. The budget received 159 billion soms in the first two months of this year, compared to 119 billion soms the year before. The main contribution is taxes.

At the same time, the state is spending significantly less than it earns. Expenditures for the same period amounted to approximately 64 billion soms, with another 22 billion soms spent on the acquisition of material assets.

CentralasianLIGHT.org

April 8, 2026]]></description>
		<pubDate>Wed, 08 Apr 2026 22:33:12 +0600</pubDate>
		<link>https://centralasianlight.org/news/kyrgyzstans-budget-posted-a-surplus-of-almost-881-million/</link>

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		<title>Demand for Gold Bars in Uzbekistan Grown Eightfold in 2 Years</title>
		<description><![CDATA[TASHKENT - The market for gold bars in Uzbekistan has demonstrated steady growth since 2020, but the main surge in demand is expected in 2024–2025, according to a survey by the Central Bank of Uzbekistan, Gazeta.uz reports.

According to the regulator, from November 2020 to the end of 2025, banks sold 65,150 bars, weighing a total of 1.2 tons, to the public. Moreover, the sales infrastructure expanded significantly: the number of participating banks increased from 12 to 19, and the number of service outlets increased from 34 to 170.

More than 60% of all sales were 5- and 10-gram bars, indicating a preference among the public for affordable investment instruments. A similar structure is observed in gold buybacks: of the 11,828 bars (201 kg) purchased by banks from individuals, approximately 65% ​​were also small denominations. Overall, 83.4% of the precious metal remains in the hands of buyers.

A key increase in demand has been recorded over the past two years.]]></description>
		<pubDate>Tue, 07 Apr 2026 20:17:55 +0600</pubDate>
		<link>https://centralasianlight.org/news/demand-for-gold-bars-in-uzbekistan-grown-eightfold-in-2-years/</link>

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		<title>Kazakhstan Receives Least Amount of Migrant Remittances</title>
		<description><![CDATA[The share of remittances in Kazakhstan's GDP is approximately 0.08%—one of the lowest in the world. Compared to this, countries of the former Soviet Union rely on them tenfold more heavily. Zakon.kz investigated the reasons behind this gap.

A Hundredfold Difference
According to the World Bank and Trading Economics, migrant remittances to Kazakhstan account for approximately 0.08% of GDP (1% in 2024).

For comparison:


	Tajikistan – 47.89% of GDP
	Kyrgyzstan – 17.74%
	Uzbekistan – 14.42%
	Georgia – 11.87%
	Ukraine – 6.29%
	Armenia – 4.92%
	Azerbaijan – 1.82%
	Belarus – 1.81%
	Russia – 0.09%.


The global average is approximately 0.82%.

This indicator reflects the share of money that citizens working abroad send home.

Why Kazakhstan ranks at the bottom of the rankings
The low share is explained by the structure of the economy. Kazakhstan is not a country of mass labor emigration. On the contrary, it attracts labor from neighboring countries. People come to the country to work,]]></description>
		<pubDate>Mon, 06 Apr 2026 23:42:15 +0600</pubDate>
		<link>https://centralasianlight.org/news/kazakhstan-receives-least-amount-of-migrant-remittances/</link>

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		<title>Kyrgyzstan&apos;s Tax Revenues have Plateaued After a Surge</title>
		<description><![CDATA[Tax revenues continue to grow in Central Asian countries, but the dynamics vary significantly: some economies are accelerating, while others are entering a stabilization phase.

According to Schneider Group, growth in Kyrgyzstan has virtually stalled after a sharp increase in 2023, Akchabar.kg reports.

While tax revenues totaled $1.8 billion in 2022, they nearly doubled in 2023, reaching $3.4 billion. In 2024, they reached $3.6 billion, but declined slightly to $3.5 billion in 2025, indicating a plateau.

The lower tax revenues in Kyrgyzstan compared to its neighbors are largely explained by a more lenient tax burden and the structure of the economy.

Uzbekistan is showing the highest growth rates. Over three years, revenues have almost quadrupled, from $5.2 billion in 2022 to $20.2 billion in 2025. This is one of the fastest rates of tax base expansion in the region.

Kazakhstan maintains its leadership in absolute tax revenues. In 2022, revenues amounted to $20.6 billion, and in 2023, $26.6 billion.]]></description>
		<pubDate>Thu, 02 Apr 2026 18:58:25 +0600</pubDate>
		<link>https://centralasianlight.org/news/kyrgyzstans-tax-revenues-have-plateaued-after-a-surge/</link>

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		<title>Inflation in Kazakhstan Slowed Faster than Expected</title>
		<description><![CDATA[Inflation in Kazakhstan in March was 11.0% year-on-year, down from 11.7% in February and ahead of international analysts' expectations: JP Morgan forecast 11.5%, while the Bloomberg consensus was 11.6%, according to Zakon.kz.

Food products (41% of the consumer basket) contributed most to the slowdown, while service price growth slowed from 0.9% to 0.6% month-on-month. Non-food products remain more inert, but the overall easing of price pressure is already systemic.

Kazakh economist Eldar Shamsutdinov notes that the decline in inflation is not related to a weakening economy, but rather reflects the delayed effect of monetary policy tightening. The strengthening of the tenge amid rising oil prices is further curbing imported inflation.

JP Morgan and Goldman Sachs anticipate further acceleration of disinflation: their baseline scenario assumes headline inflation will reach approximately 10.2% y/y by the end of the year.]]></description>
		<pubDate>Thu, 02 Apr 2026 18:49:48 +0600</pubDate>
		<link>https://centralasianlight.org/news/inflation-in-kazakhstan-slowed-faster-than-expected/</link>

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		<title>Uzbekistan’s Foreign Trade Up 7% in Early 2026 Despite Gold Export Halt</title>
		<description><![CDATA[TASHKENT — Uzbekistan’s foreign trade turnover reached $11.6 billion in January–February 2026, up 7.1% from the same period last year, according to the National Statistics Committee, Gazeta.uz reports.

Exports fell 23.4% to $3.5 billion, mainly due to the suspension of gold shipments, which previously accounted for about 37% of total exports. The country has not exported gold since September 2025, when shipments totaled $1.48 billion. Meanwhile, imports rose 29.8% to $8.1 billion, pushing the trade deficit nearly threefold, from $1.58 billion to $4.5 billion.

Excluding gold, exports grew 22.4% to $3.5 billion, driven by services ($1.45 billion), industrial goods ($643 million), chemicals ($342 million), food ($351 million), and machinery &amp; equipment ($211 million). However, these gains only partially offset the absence of gold revenue.

Gold remains a crucial export for Uzbekistan, supporting foreign exchange earnings, tax revenues, and the national currency. Recent global market volatility,]]></description>
		<pubDate>Tue, 31 Mar 2026 20:48:41 +0600</pubDate>
		<link>https://centralasianlight.org/news/uzbekistans-foreign-trade-up-7-in-early-2026-despite-gold-export-halt/</link>

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		<title>Kazakhstan’s Agricultural Exports Reach a Record $7 Billion in 2025</title>
		<description><![CDATA[ASTANA — Kazakhstan’s agricultural exports totaled 3.5 trillion tenge, or approximately $7 billion, in 2025, marking a five-year record, Zakon.kz reports, citing the Ministry of Agriculture.

The ministry noted that the key driver of export growth was the significant expansion of preferential lending for the agro-industrial sector, reaching 1 trillion tenge. The program has become not only an anti-crisis measure but also a systemic tool for transforming the agricultural industry.

The main importers of Kazakh agricultural products included Uzbekistan, China, Tajikistan, Afghanistan, Iran, Kyrgyzstan, Russia, and several other countries.

Among the most in-demand export products were wheat, wheat flour, feed flour, barley, flax seeds, sunflower oil, and oilcakes.

The Ministry of Agriculture emphasized that preferential financing has supported increased production, export growth, development of processing, and the creation of a more sustainable economic model.]]></description>
		<pubDate>Tue, 31 Mar 2026 17:56:39 +0600</pubDate>
		<link>https://centralasianlight.org/news/kazakhstans-agricultural-exports-reach-a-record-7-billion-in-2025/</link>

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		<title>Kazakhstan Strengthens Its Position in EU Agricultural Market</title>
		<description><![CDATA[Kazakhstan has significantly strengthened its position in the European durum wheat market, increasing its export share from 10.2% to 13.8% and taking third place among suppliers. However, experts question whether this growth is a sustainable trend or a situational phenomenon, writes Zakon.kz.

The European durum wheat market remains highly concentrated. Canada is the undisputed leader, controlling 62% of the market (771,400 tonnes). The United States ranks second with 15% (186,200 tonnes), while Kazakhstan confidently holds third place. It is noteworthy that from 2019 to 2024, Kazakhstan's share was only 3% (approximately 33,000 tonnes), and the market was more fragmented.

The increase in export shipments is directly related to the record harvest. In 2025, Kazakhstan harvested 27.1 million tons of grain with a yield of 17 centners per hectare, of which 20.3 million tons was wheat. The resulting surplus necessitated active exports. By the end of the 2024–2025 marketing year,]]></description>
		<pubDate>Fri, 27 Mar 2026 17:08:05 +0600</pubDate>
		<link>https://centralasianlight.org/news/kazakhstan-strengthens-its-position-in-eu-agricultural-market/</link>

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		<title>Kyrgyzstan&apos;s Income From Agricultural Exports Exceeded $2 billion</title>
		<description><![CDATA[Kyrgyzstan's foreign trade turnover in agricultural, food, and processing products increased in 2025, reaching $2.1 billion, according to data from the Ministry of Agriculture, Economist.kg reports.

Kyrgyzstan's foreign trade turnover in 2025 is 22% higher than the same period in 2024.

Crop products traditionally account for the largest share of exports, with a monetary value of 7.04 billion soms (US$80.7 million).

Carrots hold a prominent place in the export basket, with total shipments last year amounting to 8,405 tons. Exports were distributed to six key destinations, with Russia leading the way with 4,546 tons and Uzbekistan purchasing 2,610 tons. Significant shipments were also sent to Tajikistan (849 tons), Mongolia (353 tons), and Kazakhstan (38 tons). Supply dynamics remain high at the beginning of 2026: carrot exports have already reached 1,013 tons,]]></description>
		<pubDate>Tue, 24 Mar 2026 18:13:30 +0600</pubDate>
		<link>https://centralasianlight.org/news/kyrgyzstans-income-from-agricultural-exports-exceeded-2-billion/</link>

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		<title>In Kyrgyzstan, Growth of &quot;Gray&quot; Business Outpaces Official one</title>
		<description><![CDATA[By the end of 2024, the non-observed economy in Kyrgyzstan amounted to 308 billion soms ($3.52 billion), or 19.5% of the country's GDP. Data from the National Statistical Committee reveals which sectors of the economy contain the largest concentrations of "shadow" activity, Economist.kg reports.

Informal activity predominates in the "shadow" economy, accounting for 15.7% of GDP, while the hidden economy accounts for 3.8%, down from 4.5% in 2023. Meanwhile, the share of the informal sector increased, from 14.7% to 15.7%.

The growth rate of the non-observed economy is outpacing the official economy. In 2024, real GDP increased by 11.5%, while the shadow economy grew by 12.9% in comparable prices.

The highest level of informal activity is recorded in other services, accounting for 69.4% of the industry's added value. High shares are also observed in automobile trade and repair (65%), the hotel and restaurant business (43.9%), and transportation (35.5%).

In construction,]]></description>
		<pubDate>Mon, 23 Mar 2026 16:28:34 +0600</pubDate>
		<link>https://centralasianlight.org/news/in-kyrgyzstan-growth-of-gray-business-outpaces-official-one/</link>

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		<title>Eurasian Development Bank Explains Reasons for Tajikistan&apos;s Economic Growth</title>
		<description><![CDATA[DUSHANBE – Analysts at the Eurasian Development Bank (EADB) expect Tajikistan's real GDP to grow by 8.1% in 2026, according to the bank's March edition of its Macroeconomic Review. This forecast aligns closely with the official expectations of the Tajik government, which has set a target of no less than 8.0% growth, Asiaplus.tj reports.

"This will be supported by the continuation of positive trends in consumption and investment, underpinned in part by export revenues generated by enterprises," note EADB experts.

According to the bank's analysts, the primary engines of economic expansion include:


	Energy sector – substantial state investments in expanding power generation capacity;
	Manufacturing industry – including textiles and food processing;
	Mining sector – extraction of ores and metal production, particularly gold;
	Remittances from labor migrants – remaining a critical source of domestic demand support.


Favorable global price conditions,]]></description>
		<pubDate>Thu, 19 Mar 2026 20:24:17 +0600</pubDate>
		<link>https://centralasianlight.org/news/eurasian-development-bank-explains-reasons-for-tajikistans-economic-growth/</link>

	<guid>https://centralasianlight.org/news/eurasian-development-bank-explains-reasons-for-tajikistans-economic-growth/</guid>
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		<title>Remittances to Uzbekistan Reach Record $18.9 Billion in 2025</title>
		<description><![CDATA[TASHKENT – The volume of international remittances received by Uzbekistan in 2025 grew by 28% compared to the previous year, reaching $18.9 billion, according to a review by the Central Bank of Uzbekistan. The absolute increase amounted to $4.1 billion, Daryo.uz reports.

Alongside traditional labor migration destinations—Russia, Kazakhstan, South Korea, and Turkey—Uzbek citizens are increasingly choosing to work in European and Asian countries. It was from these states that the bulk of cross-border transfers originated in 2024–2025.

The most significant growth was recorded in the following corridors:


	United Kingdom: +39%;
	European Union countries: +37% (notably, Ireland — up 2.6 times, Croatia — 2.5 times, Slovakia — +67%, Lithuania — +57%, Netherlands — +49%, Poland — +9%);
	United States: +15%;
	South Korea: +15%.


On average, each recipient in Uzbekistan receives between $2,000 and $4,000 annually.

In 2025, more than half of all inflows—52%,]]></description>
		<pubDate>Thu, 19 Mar 2026 20:12:59 +0600</pubDate>
		<link>https://centralasianlight.org/news/remittances-to-uzbekistan-reach-record-18.9-billion-in-2025/</link>

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		<title>In Uzbekistan, Gasoline Demand has Doubled Since Beginning of 2026</title>
		<description><![CDATA[In the first two months of 2026, Uzbekistan significantly increased its imports of petroleum products and fuel and energy resources.

According to statistics from the Customs Committee of Uzbekistan, the total value of imported fuel reached $304.7 million, $95.4 million higher than the same period in 2025, when purchases totaled $209.3 million, according to the portal inbusiness.kz.

The most pronounced growth was recorded in the gasoline segment. In January and February, the country imported 279.2 thousand tons of fuel worth $165.9 million, compared to significantly lower figures a year earlier: 135.9 thousand tons worth $78.5 million. Diesel fuel supplies also increased, reaching 89.6 million kg worth $71.5 million, compared to 66.4 million kg worth $53.9 million the previous year.

The growth trend also affected other product categories. Imports of motor and transmission oils rose to 17.1 million kg, valued at $29.9 million.]]></description>
		<pubDate>Wed, 18 Mar 2026 18:00:52 +0600</pubDate>
		<link>https://centralasianlight.org/news/in-uzbekistan-gasoline-demand-has-doubled-since-beginning-of-2026/</link>

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		<title>Inflation in Kazakhstan not to exceed 10% by the end of 2026 – EDB</title>
		<description><![CDATA[ASTANA — The Eurasian Development Bank (EDB) has released its latest macroeconomic review, highlighting robust economic performance in Kazakhstan and projecting a gradual decline in inflation toward the end of 2026, Forbes.kz reports.

Kazakhstan's GDP expanded by 6.5% in 2025, marking the strongest annual growth rate in over a decade. According to EDB analysts, this performance was driven primarily by domestic factors:


	
		
			
			Sector
			
			
			Growth Rate (2025)
			
		
	
	
		
			
			Mining
			
			
			+9.4%
			
		
		
			
			Manufacturing
			
			
			+6.4%
			
		
		
			
			Domestic trade
			
			
			+8.9%
			
		
		
			
			Transport
			
			
			+20.4%
			
		
		
			
			Construction
			
			
			+15.9%
			
		
	


Expansion at the Tengiz oil field and broader industrial capacity upgrades provided additional momentum.

Inflation in Kazakhstan slowed to 11.7% year-on-year in February 2026, down from 12.2% in January.]]></description>
		<pubDate>Tue, 17 Mar 2026 17:16:10 +0600</pubDate>
		<link>https://centralasianlight.org/news/inflation-in-kazakhstan-not-to-exceed-10-by-the-end-of-2026-edb/</link>

	<guid>https://centralasianlight.org/news/inflation-in-kazakhstan-not-to-exceed-10-by-the-end-of-2026-edb/</guid>
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		<title>Inflation in Central Asia: 6.5% Average, but Diverging Monetary Policies</title>
		<description><![CDATA[BISHKEK — Inflation in Central Asian countries averaged 6.5% in 2025, though price dynamics varied significantly across the region, according to a macroeconomic review by the Eurasian Development Bank (EDB), Akchabar.kg reports.

Rising global food prices exerted upward pressure on inflation in Kyrgyzstan and Armenia. Meanwhile:


	
		
			
			Country
			
			
			Inflation / Trend
			
		
	
	
		
			
			Kazakhstan
			
			
			11.7% (as of February 2026); growth slowing
			
		
		
			
			Russia
			
			
			8.9%; decline paused in January 2026
			
		
		
			
			Uzbekistan
			
			
			Gradual decline toward 10–12% range
			
		
		
			
			Belarus
			
			
			Below target benchmarks
			
		
	


In December 2025 – February 2026, central banks pursued different strategies:

Tightening:
• Kyrgyzstan: rate raised to 11%, then to 12% from February 24, 2026
• Kazakhstan: to 18%
• Uzbekistan: to 14%
• Belarus: to 9.75%

Easing:
• Russia: rate cut to 16%,]]></description>
		<pubDate>Tue, 17 Mar 2026 16:38:53 +0600</pubDate>
		<link>https://centralasianlight.org/news/inflation-in-central-asia-6.5-average-but-diverging-monetary-policies/</link>

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		<title>Uzbekistan Approves Preferential Trade Agreement with Afghanistan</title>
		<description><![CDATA[The President of Uzbekistan approved the Preferential Trade Agreement with Afghanistan by decree, Gazeta.uz reports.

The Ministry of Investment, Industry, and Trade, as well as the Customs Committee under the Ministry of Economy and Finance of Uzbekistan, have been appointed responsible for implementing the international agreement.

The Ministry of Foreign Affairs has been instructed to notify the Afghan side of Uzbekistan's completion of the domestic procedures required for the entry into force of the international agreement.

The Preferential Trade Agreement between Uzbekistan and Afghanistan, as well as the bilateral cooperation program in trade, economic, and industrial spheres for 2025-2026, were signed in Tashkent last June.

At the same time, President Shavkat Mirziyoyev, at a meeting with Acting Minister of Industry and Trade of Afghanistan Nuriddin Azizi, outlined the priority of strengthening the legal framework for economic cooperation with Kabul.

During recent talks,]]></description>
		<pubDate>Fri, 13 Mar 2026 16:35:14 +0600</pubDate>
		<link>https://centralasianlight.org/news/uzbekistan-approves-preferential-trade-agreement-with-afghanistan/</link>

	<guid>https://centralasianlight.org/news/uzbekistan-approves-preferential-trade-agreement-with-afghanistan/</guid>
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		<title>Kumtor Gold Company Reports Record $1.43 Billion Revenue Amid Rising Production Costs</title>
		<description><![CDATA[BISHKEK — Kumtor Gold Company has published its production and financial results for 2025. Despite increasingly challenging mining conditions and rising operational costs, the enterprise maintained high profitability thanks to favorable conditions on the global gold market, Akchabar.kg reports.


	
		
			
			Indicator
			
			
			Value
			
		
	
	
		
			
			Gold produced
			
			
			388,418 ounces (12,081 kg)
			
		
		
			
			All-in sustaining cost
			
			
			$1,884 per ounce
			
		
		
			
			Average selling price
			
			
			$3,711 per ounce
			
		
		
			
			Price range
			
			
			$2,882.70 – $4,612.95 per ounce
			
		
	


The company explained that increased costs are driven by two key factors:


	More complex mining operations: At the Kumtor mine,]]></description>
		<pubDate>Fri, 13 Mar 2026 16:11:45 +0600</pubDate>
		<link>https://centralasianlight.org/news/kumtor-gold-company-reports-record-1.43-billion-revenue-amid-rising-production-costs/</link>

	<guid>https://centralasianlight.org/news/kumtor-gold-company-reports-record-1.43-billion-revenue-amid-rising-production-costs/</guid>
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		<title>National Bank of Kyrgyzstan Raises 2026 GDP Growth Forecast to 10%</title>
		<description><![CDATA[The National Bank of Kyrgyzstan has upgraded its economic outlook for 2026: real GDP growth is now expected at around 10%, up from the previously projected 9%, according to the regulator's monetary policy report, Economist.kg reports.

The adjustment reflects sustained activity in the real sector over the past three years. For the first 11 months of 2025, the economy expanded by 10.2%.

Key growth drivers for 2026 include:


	Industry — commissioning of new capacities and production expansion;
	Trade — growth of e-commerce stimulating wholesale and retail segments;
	Construction — increased domestic capital investment;
	Services — maintaining a ~50% share of total GDP.


The main stimulus remains strong domestic demand, supported by rising real household incomes and a budget surplus.

The National Bank has set an inflation target of ~10% for 2026, assuming no new external shocks. Over the medium term, the regulator aims to bring inflation back to the 5–7% corridor.

To contain price pressures,]]></description>
		<pubDate>Thu, 12 Mar 2026 18:08:19 +0600</pubDate>
		<link>https://centralasianlight.org/news/national-bank-of-kyrgyzstan-raises-2026-gdp-growth-forecast-to-10/</link>

	<guid>https://centralasianlight.org/news/national-bank-of-kyrgyzstan-raises-2026-gdp-growth-forecast-to-10/</guid>
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		<title>National Bank of Kyrgyzstan Deploys $500 Million Since Start of 2026 to Stabilize National Currency</title>
		<description><![CDATA[The National Bank of Kyrgyzstan has once again entered the currency market with an intervention. On March 10, it sold $140 million, marking its fourth such operation since the beginning of the year, Akchbar.kg reports.

According to the regulator, of this amount:


	$36 million were sold with settlement on the transaction date (spot);
	$104 million were sold with settlement on a date different from the transaction date (forward).


All operations were conducted at the exchange rate of 87.45 soms per US dollar.

This marks the fourth currency sale by the National Bank in 2026. Previous interventions this year included:


	
		
			
			Date
			
			
			Amount Sold
			
		
	
	
		
			
			January 19
			
			
			$134.05 million
			
		
		
			
			February 6
			
			
			$109.95 million
			
		
		
			
			February 26
			
			
			$162.55 million
			
		
		
			
			March 10
			
			
			$140 million
			
		
	


For comparison, regulatory activity was significantly lower during the same period last year. In early 2025,]]></description>
		<pubDate>Wed, 11 Mar 2026 20:20:41 +0600</pubDate>
		<link>https://centralasianlight.org/news/national-bank-of-kyrgyzstan-deploys-500-million-since-start-of-2026-to-stabilize-national-currency/</link>

	<guid>https://centralasianlight.org/news/national-bank-of-kyrgyzstan-deploys-500-million-since-start-of-2026-to-stabilize-national-currency/</guid>
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		<title>Tajikistan&apos;s Trade Deficit Widens Despite Export Growth</title>
		<description><![CDATA[Tajikistan's foreign trade deficit in goods increased to $579 million in January of this year from $478 million in the same month in 2025, according to the Eurasian Development Bank's (EDB) weekly macroeconomic review, Asiaplus.tj reports.

"The increase in the deficit is explained by a 27.2% expansion in imports amid growing domestic demand in the economy," the review emphasizes.

It is noted that Tajikistan increased its purchases of vehicles by 52.7% year-on-year, machinery and equipment by 32.7% year-on-year, and food by 55.7% year-on-year.

"Exports increased by 53.1% year-on-year due to increased exports of precious and non-ferrous metals, textiles, and mineral products, including cement and ore concentrates," EDB analysts emphasize.

According to Tajikistan's statistics agency, the country's foreign trade turnover in January of this year amounted to $929 million, a 31.4% increase (or $221.9 million) compared to the same period last year. The trade balance was negative,]]></description>
		<pubDate>Tue, 10 Mar 2026 20:04:42 +0600</pubDate>
		<link>https://centralasianlight.org/news/tajikistans-trade-deficit-widens-despite-export-growth/</link>

	<guid>https://centralasianlight.org/news/tajikistans-trade-deficit-widens-despite-export-growth/</guid>
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		<title>Kazakhstan Increased Sunflower Oil Supplies to China by 44%</title>
		<description><![CDATA[Kazakhstan secured second place among suppliers of sunflower oil to China in 2025, capturing a 36% market share. This was announced by Yadkar Ibragimov, Chairman of the National Association of Oilseed Processors (NAOP), speaking at the international conference Chinese Grains &amp; Oils Congress 2026 in Shanghai, Kazinform news agency reports.

According to the Association's data, exports of Kazakh oil and fat products to China showed significant growth in 2025:


	
		
			
			Indicator
			
			
			Value
			
			
			Growth
			
		
	
	
		
			
			Export volume
			
			
			440,000 tons
			
			
			+44%
			
		
		
			
			Revenue
			
			
			$312 million
			
			
			+37%
			
		
		
			
			Sunflower oil market share
			
			
			36%
			
			
			2nd place
			
		
	


These results reflect growing trust from Chinese partners in the quality of Kazakh products and the effectiveness of established trade connections.

A key factor behind the export growth was improved logistics efficiency. As Yadkar Ibragimov noted, since early 2024,]]></description>
		<pubDate>Tue, 10 Mar 2026 19:12:13 +0600</pubDate>
		<link>https://centralasianlight.org/news/kazakhstan-increased-sunflower-oil-supplies-to-china-by-44/</link>

	<guid>https://centralasianlight.org/news/kazakhstan-increased-sunflower-oil-supplies-to-china-by-44/</guid>
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		<title>Moody’s Upgrades Tajikistan’s Sovereign Rating to B2 with Stable Outlook</title>
		<description><![CDATA[International rating agency Moody’s Investors Service has upgraded Tajikistan’s long-term sovereign rating from B3 to B2 and assigned the country a stable outlook, according to information from the National Bank of Tajikistan (NBT), Asiaplus.tj reports.

Moody’s linked the decision to sustained economic growth, stronger fiscal and financial positions, and the preservation of positive macroeconomic indicators. The NBT said the stable outlook reflects expectations that the country will continue to pursue prudent fiscal policy and maintain macroeconomic stability.

The regulator also stressed that the upgrade could expand opportunities for attracting investment, reduce borrowing costs, and strengthen Tajikistan’s position in international financial markets.

A month earlier, Standard &amp; Poor’s also improved the outlook on Tajikistan’s sovereign rating from stable to positive at B level.

CentralasianLIGHT.org
March 6, 2026]]></description>
		<pubDate>Fri, 06 Mar 2026 17:48:31 +0600</pubDate>
		<link>https://centralasianlight.org/news/moodys-upgrades-tajikistans-sovereign-rating-to-b2-with-stable-outlook/</link>

	<guid>https://centralasianlight.org/news/moodys-upgrades-tajikistans-sovereign-rating-to-b2-with-stable-outlook/</guid>
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