Kazakhstan Dissolves Local Assemblies as Oil Output Falls and Benefit Cuts Are Planned

Kazakhstan's President Kassym-Jomart Tokayev dissolved all local assemblies, or maslikhats, on October 12, and the Central Election Commission called snap elections for November 29. Most maslikhat seats had been held by members of the Amanat party, which was absorbed into the new ruling party, Adilet, in June.

On October 14, Prime Minister Olzhas Bektenov said a social security reform will eliminate some benefits for 'well-off' citizens, saving 700 billion tenge ($1.6 billion) in 2027 alone. Tax revenues rose 18.2% from January to September, Economy Minister Serik Zhumangarin said, after the VAT rate was raised from 12% to 16%.

Oil output at Kazakhstan's largest fields fell in the first three quarters, according to the energy ministry, with Tengiz down 12%, Kashagan 6% and Karachaganak 18%. Ukraine's attacks on the Caspian Pipeline Consortium, Kazakhstan's main export route, have been blamed for the slump.