Kazakhstan’s Public Debt Remains Moderate Amid Strong Reserves
Kazakhstan’s public debt stands at approximately 23% of GDP, with external debt around $20 billion, Deputy Minister of National Economy Arman Kassenov reported on May 20.
He emphasized that Kazakhstan is effectively a net creditor, given its international reserves exceed $100 billion.
“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 data showed the national economy grew by 6% in January–April, driven by gains in transport, trade, industry, and agriculture.
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