Senator commented on a new loan worth almost 346 million euros: Control over state debt of Kazakhstan is lost

Astana. November 17. KazTAG - Control over the state debt of Kazakhstan has been lost, believes Yedil Mamytbekov, Senate deputy
“The state debt has already reached KZT30 trillion, in 2023 this amount will increase by KZT3.2 trillion. That is, we can see that control over the debt has been lost,” Mamytbekov said at a discussion of the draft law “On ratification of the loan agreement between the Republic of Kazakhstan and the International Bank for Reconstruction and Development (IBRD)” at a plenary session of the Senate.
According to him, the public debt has been growing.

“Over the past three years, it has grown by more than $6 billion, as of January 1, 2022, amounted to more than $165 billion. The main debt to international financial organizations is $6.3 billion or 33% of the total loans since 1998,” he said.
According to him, in five years, the cost of servicing the public debt will triple.
The bill provides for the ratification of the loan agreement of 345.7 million euros, with a maturity of 11.5 years.

Photo source: picture from an open source