What Matters for Business

1. The Kurultai (parliament) approved an alternative-energy bill in its first reading. The legislation would award energy-storage projects through auctions and provide capacity payments for up to 15 years. It could create demand for equipment suppliers, but has not yet become law.
2. Argus reports that Russian Railways did not approve requests to move Kazakhstani coal to Baltic ports in October and November. Exporters serving Europe and Turkey face potential shipment delays and higher costs on alternative routes.
3. Brokers will have to conduct separate source-of-funds checks when clients buy more than $3 million in noncash foreign currency in a day, or $10 million for companies. ARDFM Resolution No. 158 has been adopted; its effective date depends on official publication.
4. The monetary threshold used to flag mobile transfers as potential business income has risen to 360 monthly calculation indices (MCI), or 1.557 million tenge over three months in 2026. The separate requirement of transfers from at least 100 different people in each month remains. Crossing the monetary threshold alone does not trigger a tax.
5. Kazakhstan's Ministry of Trade has appealed to the Eurasian Economic Commission over a Russian environmental fee imposed on Kazakhstani power transformers while domestic manufacturers are exempt. No commission decision has been reported.
6. The National Bank forecasts economic growth of 4.5%–5.5% this year and has reaffirmed its 2027 inflation forecast of 6.5%–8.5%. An IMF representative projected average oil prices of $96 a barrel in 2026 and $86 in 2027.
7. Kaspi.kz lowered its 2026 forecast for marketplace gross merchandise value growth to about 12% at constant exchange rates. The company attributes the revision to lower prices for goods as the tenge strengthens, rather than a decline in purchasing volumes.