Kazakhstan’s government debt almost quadruples

Kazakhstan Materials 30 August 2018 11:57 (UTC +04:00)

Baku, Azerbaijan, Aug. 30


Kazakhstan’s government debt has almost quadrupled for the last five years, Kazakh media reported.

To date, the government debt of Kazakhstan is about $42 billion, which is 21.9 percent more than last year.

Kazakhstan’s government debt has grown mainly because of the government’s internal debt, which grew 30.6 percent for the year, analysts said.

The external debt grew 4.7 percent, or by $585 million. On average, the government debt grows 28.8 percent year-on-year.

To service the debt, almost $700 million were allocated from the Kazakh state budget for the first half of this year. This is 13.3 percent more than for the same period in 2017.

At the same time, the total expenditures of the Kazakh state budget in all directions increased by 9.6 percent or $1.2 billion.