Ban can be imposed on some Kazakh companies’ external borrowings
Azerbaijan, Baku, May 14 / Trend E. Kosolapova/
Kazakh Finance Minister Bolat Zhamishev proposed to impose a ban on foreign borrowings of some national companies, Kazakh Majilis (Parliament's lower house) reported.
"It is expedient to prohibit the foreign borrowings of the companies of quasi-public sector excluding the companies under control of Sovereign Wealth Fund Samruk-Kazyna, KazAgro holding and the Development Bank of Kazakhstan," Zhamishev said at the governmental hour in Majilis on Monday.
Meanwhile, this ban will not concern the debts from hire-purchase of goods and services from non-residents, i.e. normal trade payables, Zhamishev said.
Moreover, Kazakh Finance Minister proposed to set the upper limit of public and quasi-public debt at the level of 60 percent of GDP.
"A decision on attraction of quasi-public sector's internal or external borrowings exceeding the certain sum should be made only by the Kazakh Government," Zhamishev said.