16 July 2011 | 12:19

Massimov: Situation with foreign debt in Kazakhstan much better than in any EU country

Kazakhstan Prime-Minister Karim Massimov. Screenshot from online-conference at zakon.kz

Kazakhstan Prime-Minister Karim Massimov is sure that the situation with foreign debts in Kazakhstan is better than in any country of the European Union (EU), KazTAG reports. “I can state that current situation (with foreign debts) in Kazakhstan is much better than in any country of the European Union,” Massimov said during the online-conference at Zakon.kz on July 15. According to Massimov, a new strategy of national security, which is currently being prepared and “will be submitted for the President's review, includes all these issues and sets the debts limits.” Massimov reminded that foreign debts of Greece, Italy and other countries exceeds 100-120 percent, while Japanese foreign debt exceeds almost 200 percent of their GDP. “This issue (foreign debts) is of interest for many people in our country. And this is right, because it is closely linked to the financial sustainability and security. Kazakhstan's foreign debt has not exceeded 10 percent in the last several years. 4-6-8-10 percent is the limit, the level of sustainability that we should exist within,” PM said. Massimov did not specify Kazakhstan's foreign debt in monetary terms. Earlier Tengrinews.kz English reported that Kazakhstan's national debt made 2.298 trillion tenge ($16 billion) as of April 1. Prime-Minister replied to over 10 questions out of 2,000 during the online-conference and received important information as well. “Why do we need such conferences? Of course, if ithese are conferences for talk only, they will yield no results. But if actions are taken by me or any other members of the Government after such conferences, this makes them of great importance,” Massimov said. “To me the majority of questions shows the sociological slice of problems that are of a great concern for the community and the Government must answer them,” he added. The online-conference lasted for 1.5 hours. Karim Massimov answered only a small portion of the submitted questions, but promised to reply to the remaining ones in writing.

Kazakhstan Prime-Minister Karim Massimov is sure that the situation with foreign debts in Kazakhstan is better than in any country of the European Union (EU), KazTAG reports. “I can state that current situation (with foreign debts) in Kazakhstan is much better than in any country of the European Union,” Massimov said during the online-conference at Zakon.kz on July 15. According to Massimov, a new strategy of national security, which is currently being prepared and “will be submitted for the President's review, includes all these issues and sets the debts limits.” Massimov reminded that foreign debts of Greece, Italy and other countries exceeds 100-120 percent, while Japanese foreign debt exceeds almost 200 percent of their GDP. “This issue (foreign debts) is of interest for many people in our country. And this is right, because it is closely linked to the financial sustainability and security. Kazakhstan's foreign debt has not exceeded 10 percent in the last several years. 4-6-8-10 percent is the limit, the level of sustainability that we should exist within,” PM said. Massimov did not specify Kazakhstan's foreign debt in monetary terms. Earlier Tengrinews.kz English reported that Kazakhstan's national debt made 2.298 trillion tenge ($16 billion) as of April 1. Prime-Minister replied to over 10 questions out of 2,000 during the online-conference and received important information as well. “Why do we need such conferences? Of course, if ithese are conferences for talk only, they will yield no results. But if actions are taken by me or any other members of the Government after such conferences, this makes them of great importance,” Massimov said. “To me the majority of questions shows the sociological slice of problems that are of a great concern for the community and the Government must answer them,” he added. The online-conference lasted for 1.5 hours. Karim Massimov answered only a small portion of the submitted questions, but promised to reply to the remaining ones in writing.

Kazakhstan Kazakh Karim Massimov Karim Masimov economy Debt

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