Vice Minister: Kazakhstan’s state debt stands at acceptable level

Photo: Vice Minister: Kazakhstan’s state debt stands at acceptable level
 / Kazakhstan

Astana, Kazakhstan, Dec. 26

By Daniar Mukhtarov - Trend:

Kazakhstan's state debt stands at an acceptable level, Kazakh Vice Minister of Finance, Ruslan Dalenov said on Dec. 26.

He made the remarks at a briefing held in Astana at the Central Communications Service under the President of Kazakhstan.

"As of December 1, the state debt amounted to 4.74 trillion tenges, or about $26.5 billion. This is 1.9 percent of GDP, which is a fairly low rate," he said.

The vice minister said that the debt on government guarantees was 121 billion tenges (154.10 tenge = $1).

"In the first nine months, the level of government debt and its servicing and repayment stood at acceptable and safe limits," Dalenov said.

He went on to add that the debt burden on the budget, that is, all the costs of debt service, are at an acceptable level, in the first nine months stood at 9.7 percent.

"I would like to remind you that the limit is 15 percent. It is still far to this threshold," Dalenov said.

Translated by E.A.

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Tags: Kazakhstan