The Kazakh Ministry of Finance has proposed increasing the budget deficit from 3.535 trillion tenge (2.6% of GDP) to 3.596 trillion tenge (2.7% of GDP) due to a reduction in projected revenues.

Turkey has written off Kyrgyzstan's foreign debt totaling $58.9 million, the press service of Kyrgyzstan's president confirmed to Interfax on Tuesday.

Demand for oil in China for fuel production has peaked and is now expected to shift primarily toward petrochemicals, Gunvor CEO Torbjorn Tornqvist told reporters at ADIPEC.