“Much lower than in neighboring countries“. Minister named the exact amount of Kazakhstan's public debt

Tengrinews.kz — What is Kazakhstan's current national debt? Finance Minister Madi Takiyev disclosed the exact figure on the sidelines of the Mazhilis, reports our correspondent.

Today, members of the Mazhilis ratified an agreement between Kazakhstan and the International Bank for Reconstruction and Development for a $600 million loan to the country.

On the sidelines of the chamber, journalists asked the minister to clarify the size of Kazakhstan's loan portfolio. Takiyev responded that it currently stands at 3.5 trillion tenge. Furthermore, the government managed to save 115 billion tenge from the budget this year.

"What is the total amount of active loans, including the quasi-public sector?" journalists inquired.

"We do not count the quasi-public sector; our public government debt is $17 billion, or 4.5 percent of GDP. It is much lower than even in neighboring countries," Madi Takiyev said.

According to the official, the debts of quasi-public companies are not included in this figure because "they take on the debt themselves and cover it themselves".

"I repeat: the external foreign debt specifically is $17 billion, or 4.5 percent of GDP. We are not responsible for any other debts. We provide no state guarantees for them," the Finance Minister added.