InfoHub Logo

Kazakhstan is bracing for further price increases, with natural gas and rail transport costs slated to rise following recent hikes in heating and water tariffs. This development raises questions about its potential impact on the nation's inflation rate.

Rationale Behind Tariff Adjustments

According to Deputy Prime Minister Serik Zhumangarin, a three-month moratorium was implemented to strategically manage and phase in the upcoming changes. He highlighted that heating tariffs in Astana have seen an approximate 15% increase, while water supply and sewerage services have risen by 20-29%. Similar adjustments have been introduced in the Ulytau and Akmola regions.

Impact on Inflation

Initial government estimates suggest that these measures will contribute no more than 0.3% to the overall inflation rate. However, these figures are preliminary, and the full economic effect is still under assessment.

Rising Natural Gas Prices

The increase in natural gas prices is attributed to the need to raise wholesale gas tariffs. Zhumangarin explained that the current confirmed gas reserves are not substantial enough to incentivize private entities to engage in gas production at existing wholesale prices, deeming it unprofitable. This situation, he noted, prevents Kazakhstan from being among the leading nations in terms of production and reserves.

Increased Rail Transport Costs

In parallel, the government is considering an average increase of up to 12% in rail transport service tariffs, aligning them with the general inflation level. While the combined effect of all these decisions could potentially push inflation up by as much as 0.8%, the Deputy Prime Minister anticipates the actual impact will remain within the 0.3-0.5% range.

Future Economic Outlook

Despite these impending price adjustments, Serik Zhumangarin expressed optimism, projecting that the real incomes of Kazakh citizens will show positive growth by 2026.

Bul týraly Infohub.kz aqparat agenttigi habarlaıdy.