Annual use of credits formulating public arrears not to exceed 7% of GDP

Business Materials 24 October 2005 13:30 (UTC +04:00)

The annual use of funds of constituting public arrears should not exceed 7% of the Gross Domestic Product (GDP). At present the public arrears comprise 15% of the GDP, Trend reports.

"At present we have minimal figure of correlation between the public arrears and the GDP among CIS countries. The GDP increases in rapid pace, which is sure to result in cut of the correlation shortly. However, the amount of consumption of credits must be strictly related to the annual GDP and in this respect it would be expedient to have the correlation comprising 7%," the Cabinet of Ministers said.