According to the National Statistics Agency, Kazakhstan's industrial output from January-October 1998 decreased 1.6% to KZT 663.2bn (USD 8.05bn) compared with the same period of 1997.

Kazakhstan's GDP totalled KZT 1,379.5bn (USD 16.7bn) in the first 9 months of 1998. This was unchanged on a YoY basis.

The country's foreign trade deficit was KZT 1,158.1m (USD 14m) between January-September 1998, and it was KZT 584.9m in the corresponding period last year.

The average monthly wage in September increased 0.8% from that in August to KZT 9,934 or USD 125.2.

The number of unemployed in Kazakhstan was 256,700, or 3.8% of the workforce, at the end of October. This number was 249,000 in September. (Reuters)

The World Bank's Country Director for the Central Asian states, Kiyoshi Kodera, told Reuters that the World Bank would fulfil a USD 1bn, 3-year programme in Kazakhstan. According to him, the successful implementation of pension reforms is a key priority of the programme. As part of the programme, the World Bank approved a USD 300m loan, of which the first tranche has already been withdrawn, to help build Kazakhstan's pension system. The first of three tranches of a USD 230m public sector adjustment credit has also been released. The second tranche is expected in December 1998, and the programme includes civil service reforms. Next year, the bank will finance four programmes that cover health care, road and transport upgrades, a pilot agriculture privatisation scheme, and a water supply project. The lending programme totals USD 900m-1bn and is scheduled to be complete by summer 2000. (Interfax & Reuters)

According to the National Pension Agency, Kazakhstan's aggregate pension assets that are placed in financial instruments totalled KZT 16.9bn (USD 205m) as of 1 November 1998. This sum makes up 16% of all of Kazakhstan's banks' assets. Most of the assets are invested in government securities. Pension assets are formed of monthly deposits on individual accounts which were opened for citizens with pension funds. Of the 12 Kazakhstani pension funds only one is state-run. The latter, however, dominates handling about 75% of all pension deposits. (Reuters)

Kazakhstan's crude oil output fell in October to 1.943 million tonnes from 1.990 million tonnes in September. Natural gas production increased 5.6% to 0.663 billion m³ in October compared with September. Gasoline output fell 37% to 132,200 tonnes, and fuel oil output fell 23.6% to 235,500 tonnes. (Reuters)

The National Statistics Committee reported that Kazakhstan's copper output rose 26.4% to 26.747 tonnes in October compared with September (a -2.5% YoY change). Other statistics for the month of October were as follows: zinc—21,048 tonnes (+4.1% MoM change, +25.7% YoY change); lead—7,354 tonnes (-2.5 MoM change, -8.9% YoY change); bauxite—316,400 tonnes (-0.2% MoM change, +7.4% YoY change); alumina—98,495 tonnes (+3.1% MoM change, +7.0% YoY change). (Reuters)

Since both the North Kazakhstan electric network company and the Petropavlovsk central heating and power plant have been declared bankrupt, their properties are to be sold on 17 December through an English auction. The companies' assets will be auctioned as one lot and will include both immovable and movable property and the companies' receivables. The starting price is estimated at KZT 5.8bn (some USD 70m). If the auction does not take place on the above date, it will be repeated on 22 December using the Dutch scheme. (Reuters)

Interfax reported that the first exploratory oil drilling on the Caspian shelf may not start before next spring even though it had been scheduled for December 1998. According to an Interfax source, the delay is due to the fact that the water level in the Caspian Sea is dropping. This means that the drilling barge will need to be altered to meet the new conditions. (Interfax)