🇰🇿Week of October 19

President Kassym-Jomart Tokayev chaired a Security Council meeting on military reform and instructed officials to draft proposals for reforming the defense sector. He tied the work to what the sources describe as large-scale transformations in the country.12

Speaking at a ceremony in Akorda for Republic Day, Tokayev called the changes in Kazakhstan's system of state authority unprecedented. He addressed the government, deputies and civil servants at the event.345

Tokayev said the government is studying the situation on social benefits and payments. He made the remark in the same Republic Day address.6

At the ceremony Tokayev awarded orders and titles to Kazakhstanis for significant contributions, and named the country's main achievements of recent years. He conferred the title "Қазақстанның Еңбек Ері" on Abdrahit Dospanov, a smelter at the Zhezkazgan copper smelting plant.789

An international arbitration court rejected claims by Kazakhstan against major oil companies totaling about $12 billion over disputed costs at the Kashagan field, Bloomberg reported, citing sources. The court sat in The Hague.12

The ruling covered only part of Kazakhstan's claims. Demands worth a further $8 billion were left in force, according to Inbusiness.3

Kazakhstan had sought compensation from the oil companies for expenses at Kashagan that it disputed. The claims were brought against large oil firms operating at the field.14

The monetary policy committee of Kazakhstan's National Bank cut the base rate to 15.75 percent from 16.25 percent, with a corridor of plus or minus 1 percentage point. The decision was announced on Friday, 23 October. The bank had already lowered the rate from 16.75 percent to 16.25 percent in early September.12

The National Bank gave slowing inflation as the main reason for the cut. It said it does not expect further changes to the base rate before the end of 2026, and that only extraordinary events could push the regulator to move again.34

Most analysts had expected the cut ahead of the announcement, forecasting a reduction from 16.25 percent.5

Separately, Kazakh business circles signed contracts worth $46 million in Switzerland. The memorandums cover trade, commercial real estate and the development of manufacturing cooperation.6

In parliament, deputies raised concern that budget spending on new thermal power plants and power stations will bring orders to foreign manufacturers, and proposed changing state procurement rules.7

The figure is a preliminary estimate, the bank said. The inventory was described as a forced check of the existing waiting list rather than a new application round.12

Separately, Otbasy Bank is changing how it calculates the maximum commission for arranging preliminary and intermediate loans from October 31. The commission rate itself stays at 1 percent of the loan amount; only the ceiling values change, for large-sum loans.3

Kazakhstan's foreign ministry said it welcomes the United Arab Emirates' nomination of its minister of state for foreign affairs, a former permanent representative, as a candidate for UN secretary-general. The ministry issued the statement in support of the Emirati candidacy.12

The endorsement was announced by the Kazakh foreign ministry and reported by outlets in Kazakhstan. The candidate is the UAE's minister of state for foreign affairs, who previously served as the country's permanent representative.12

The UAE has separately sent cleanup crews to its coastline after an oil spill near the Strait of Hormuz, and beaches in the country were closed. The spill response is reported alongside the diplomatic nomination but is a separate Emirati matter.3