Foreign direct investment inflow in Kazakhstan exceeds $5B

Finance Materials 5 November 2018 10:49 (UTC +04:00)

Baku, Azerbaijan, Nov. 5

By Rashid Shirinov – Trend:

The inflow of foreign direct investment in Kazakhstan for the first 9 months of this year increased by 1.8 times and amounted to $5.2 billion, Kapital.kz reported referring to the National Bank.

"The main source of inflow was repayment by foreign affiliated companies of their debt obligations to Kazakhstan residents and reinvestment of non-residents' income in the capital of Kazakh enterprises", the National Bank stated.

Meanwhile, the net capital outflow on portfolio investment amounted to $3.1 billion.

"The outflow is associated with a decrease in residents’ liabilities as a result of repayment by Kazakh enterprises and banks of previously issued Eurobonds, KazMunayGas Exploration Production’s redeeming its shares and global depositary receipts in the market, as well as purchase of Eurobonds of Kazakhstan’s Finance Ministry by residents in the secondary market ", the National Bank informed.

During the first 9 months of 2018, Kazakhstan’s current account deficit decreased by 5.4 times to $0.9 billion.


Follow the author on Twitter: @ShirinovRashid