The issuance is the lowest in terms of amount due to the negative sentiments on the world’s stock markets and lower oil prices
Kazakh Finance Minister Yerulan Zhamaubayev talked about last year’s national budget deficit, Kazinform reports.
Addressing a session of the Finance Ministry’s Board, Zhamaubayev said that the national budget deficit has stood at KZT2.2tln in 2020, adding that KZT3trl was borrowed.
According to him, factoring in minimal currency risks, attractive rates as well as limited domestic market resources, ruble bonds to the equivalent of KZT223bn were issued.
In his words, the issuance is the lowest in terms of amount due to the negative sentiments on the world’s stock markets and lower oil prices.
As of January 1, 2021, the country’s State debt stood at KZT20.6trl or accounted for 29.6% of the GDP. Government debt takes 80% of the State debt and accounts for KZT16.7trl or 23.9% of the GDP.