Kazakhstan’s foreign debt up by $4.2B
Baku, Azerbaijan, Oct. 25
By Nigar Guliyeva – Trend:
As of July 1, 2017, Kazakhstan’s foreign debt amounted to $167.9 billion, according to the National Bank of Kazakhstan.
Some 7.9 percent or $13.2 billion out of the total amount accounts for the foreign debt of public sector, 3.7 percent or $6.2 billion – for the foreign debt of the banking sector, 25.2 percent or $42.4 billion – for the indebtedness of other sectors not related to direct investments, and the remaining 63.2 percent or $106.1 billion – for the inter-company debt.
During the first half of 2017, the country’s foreign debt increased by $4.2 billion, including $2.4 billion in the two quarters of 2017. This was mainly due to the growth in the value of sovereign Eurobonds issued in international capital markets as well as due to an increase in short-term note demands of non-residents from the National Bank of Kazakhstan.
Foreign liabilities of banks (second-tier banks and Development Bank of Kazakhstan) decreased by $1 billion.
Kazakhstan’s net foreign debt increased by $3.1 billion to $41.2 billion during 1H17 accounting for 27.6 percent of GDP.
(334.94 KZT = 1 USD on Oct. 25)