Deputy PM Zhumangarin outlines risks for Kazakhstan amid Middle East conflict
Deputy Prime Minister - Minister of National Economy Serik Zhumangarin outlined potential risks for Kazakhstan stemming from the ongoing military conflict involving Israel, the United States, and Iran, Qazinform News Agency reports.
Speaking in the Mazhilis, Zhumangarin noted that Kazakhstan’s logistics are unlikely to be significantly affected.
He explained that the country rarely relies on Persian Gulf ports such as Bandar Abbas, citing infrastructure challenges and lengthy transit routes.
“I don’t think the conflict will have any impact on our logistics. Shipments through the Persian Gulf were never dominant for us,” Zhumangarin said.
The minister emphasized that the main risk lies in possible fluctuations of the tenge exchange rate due to volatility in global oil prices.
“Oil price fluctuations will naturally affect the exchange rate. Volatility is never good. What we need is stability,” he added.
Zhumangarin stressed that the government, together with the National Bank, will closely monitor the situation and assess its impact on the national currency.
Earlier, it was reported that 946 Kazakh nationals have been repatriated from the Middle East.