Level of state debt of Kazakhstan to be taken under careful control

Level of state debt of Kazakhstan to be taken under careful control
ⒸCentral Banking

The level of state debt of Kazakhstan will be taken under special control, said Timur Suleimenov, minister of national economy of Kazakhstan, Qamshy.kz information agency reports.

"The level of state debt will be taken under special control. As of today it makes 26% of GDP, according to the prognosis it will lower to 23.7% of GDP by 2022," he said at the session of the Government.
In his words, in compliance with the concept of the National Fund the debt of the Government taking into account the guaranteed state debt and foreign debt of quasi-state sector must not be higher than the size of currency assets of the National Fund.

"As of today this indicator makes 97.5% to currency assets of the National Fund. There is a risk of frustration of the indicated limit in 2018. Thus, the Ministry of National Economy will bring changes in the concept of the National Fund until the end of 2018 in terms of exclusion of  internal debt of the Government from the calculation of the debt indicator," he said.

Appropriate orders of the Government and prime minister are under coordination in the authorized state bodies.

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