ASTANA, Kazakhstan, December 22. Kazakhstan has established a State Debt Management Council, Trend reports, citing the country’s Ministry of Finance.
The Council was created through a collaboration between the Ministry of Finance, the National Bank, and the Ministry of National Economy of Kazakhstan.
The decision to establish the Council is part of the implementation of a comprehensive set of measures aimed at ensuring the sustainability of government finances and improving the balance of macroeconomic policy in Kazakhstan for the period from 2025 through 2027.
The Council’s activities will focus on developing measures to enhance the depth, liquidity, and efficiency of the government securities market. It will also work towards reducing the cost of government borrowing to finance the budget deficit and creating relevant benchmarks for the quasi-state sector and corporate issuers.
The primary tasks of the Council will include making coordinated decisions on the management of state debt, developing the government securities market, and shaping policies for the issuance of securities on both domestic and international markets, all while considering macroeconomic conditions and debt sustainability.
As of July 1, 2025, Kazakhstan’s national debt reached 31.9 trillion tenge ($61.7 billion), or 21.1% of GDP. Since the beginning of the year, it has increased by 40 billion tenge ($77.3 million), with the primary driver of this growth being the financing of the national budget deficit and the utilization of previously raised loans.
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