ASTANA – Kazakhstan’s public debt stands at nearly 23% of its gross domestic product (GDP), while external debt amounts to around $20 billion. At the same time, the country’s international reserves exceed $100 billion, said Deputy Minister of National Economy Arman Kassenov on May 20.
Photo credit: Shutterstock
He stated that, in reality, Kazakhstan is not so much a debtor but rather a net creditor to the world.
“First, our public debt is low, and second, unlike many other countries, Kazakhstan has substantial gold and foreign exchange reserves, along with the assets of the National Fund, which total over $100 billion. This is around 30% to 35% of GDP. Not every country has such reserves. Therefore, public debt is not a concern for Kazakhstan,” Kassenov told Kazinform on the sidelines of the Senate.
Earlier, the Ministry of National Economy reported that Kazakhstan’s economy grew by 6% in January-April, according to preliminary data from the Kazakh Bureau of National Statistics. The figures indicate an acceleration in development across key sectors, including transport, trade, industry, and agriculture.
