National debt of Kazakhstan stays at a safe level - Kazakh Vice-Minister of Finance

11:00, 21 May 2013

ASTANA. May 21. KAZINFORM - The public debt of the Republic of Kazakhstan is at a safe level.This has been announced by Deputy Finance Minister Berik Sholpankulov, representing the Government report on the execution of the republican budget for 2012 at a meeting of the committee on social and cultural development of the Majilis of the Parliament of Kazakhstan under the chairmanship of Dariga Nazarbayeva.

"As part of the financing deficit of the national budget, as well as promoting development of the financial instruments in the course of 2012, the Ministry of Finance placed government securities amounting to KZT 1 trillion 67.5 billion. Income from foreign borrowings amounted to KZT 111.4 billion, including from international financial institutions - KZT 107.4 billion, from foreign countries - KZT 3.9 billion. Repayment of external loans amounted to KZT 32.9 billion, domestic loans - KZT 241.4 billion, " said B.Sholpankulov.

According to the official, in accordance with the recommendations of Standard & Poors international rating agency , limit of the debt burden on the budget should be in the range of 10-15 percent. The level of the indicator on January 1, 2013 is 8.5 percent and is within range of valid values. The level of public debt criteria of Maastricht agreement should not be above 60 percent of GDP. The level of this index is 12.2 percent.

Government of Kazakhstan Finance and Budget Government