Kazakhstan's national debt at 'safe' level - MNE
ASTANA. KAZINFORM According to the Minister of National Economy of the Republic of Kazakhstan Timur Suleimenov, Kazakhstan's state debt is at a safe level, Kazinform correspondent reports.
The Minister noted that as of May 1 the state debt of the country amounted to 'safe' 12.3 trillion tenge or 24.6% of GDP, as it was expected.
Timur Suleimenov added in the first four months of 2017, most sectors of the economy showed an accelerated growth, while inflation rate declined, and investment activity and international reserves increased. "In particular, they grew by 2.2% since the beginning of the year and now amount to 92.7 billion tenge," the minister noted.
Preliminary numbers for January-April show that GDP growth rate accelerated to 3.7% against 3% in the first quarter of 2016. Minister Suleimenov noted that the positive dynamics should not create an illusion that such growth can be preserved without an active involvement of the state apparatus. During the first 5 months of 2016, the GDP fell by 0.2%, therefore creating a low base effect.
"That is, by the end of first half of the year this effect will be fully overcome and, accordingly, we will have to find new sources of growth to ensure that achieving the planned growth rate of at least 2.5% at the end of the year," he added.