BAKU, Azerbaijan, January 19. Kazakhstan plans to attract 5.7 trillion Kazakh tenge ($12.29 billion) by issuing government securities, Alikhan Smailov, Prime Minister of Kazakhntan, said Trend reports, citing Kazakh media.
This is an increase of 800 billion Kazakh tenge ($1.72 billion) compared to earlier estimates.
According to the prime minister, it is important to use every available tool to attract the necessary amount for budget deficit financing, including accessing foreign markets.
However, Smailov added that the deficit should be financed primarily through domestic borrowing in the national currency to mitigate currency risks and develop the domestic market.
Earlier, Kazakhstan previously approved the 2023 budget with 17.8 trillion Kazakh tenge ($38.39 billion) worth of revenues, while expenditures were set at 21 trillion Kazakh tenge ($45.29 billion) or 17.4 percent of GDP.