• Sign in
  • 1751972643_633.png 1751972643_245.png 1751959824_218.svg 1751959824_520.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12413.79
    • RUB154.86
    • EUR14468.27
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +27°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Kazakhstan

    MP warns of default risk as Kazakhstan's public debt outpaces GDP growth by 15%

    MP warns of default risk as Kazakhstan's public debt outpaces GDP growth by 15%

    Adil Zhubanov, a member of Kazakh Parliament has raised concerns that Kazakhstan's state budget may face default if the current pace of public debt growth persists, KazTAG reports.

    Adil Zhubanov, a member of Kazakh Parliament.
    Source: kyzylorda

    Zhubanov noted the rapid increase in public debt compared to national GDP, with debt growing at 28% annually over the past 15 years, outpacing the 15% average annual GDP growth. Without corrective measures, Zhubanov warned of the potential for a technical default. As of July 1, 2023, the government's debt stood at $61.7bn, and projections indicate that servicing this debt will constitute 14% of the total budget by 2026, escalating to 49% of the national GDP by 2030.

    The Ministry of Finance reported Kazakhstan's public debt at $63.1bn or 24.4% of GDP as of October 1, with $54.6bn (86.4% government-owned), $6.1bn held by the National Bank, and $2.3bn owed by local executive bodies. The composition of Kazakhstan's public debt includes external (controlled by non-resident holders) and internal (owned by residents) components.

    The Ministry of Finance reported Kazakhstan's public debt at $63.1bn or 24.4% of GDP as of October 1.
    Source: Shutterstock

    A government default on liabilities could impact Kazakhstan's sovereign rating, although modern economic science doesn't recognize the term "budget default." Governments can borrow or use reserves, and in Kazakhstan, funds are typically accessed from the National Fund.

     

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    08.12.2023, 21:14   Comments (0)   2270
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Kazakhstan-France economic ties: $150mn agro-industrial & biotech collaborations 

    02.11.2023, 15:13

    Kazakhstan makes $260mn mark at 6th CIIF in Shanghai, fostering economic ties with China and global partners 

    06.11.2023, 13:53

    Kazakhstan unveils $244mn ferroalloy plant, set to transform economic landscape 

    01.12.2023, 21:00

    Kazakhstan secures ArcelorMittal Temirtau ownership without draining state budget 

    08.12.2023, 18:48

    12 Kazakh universities secure spots in QS World University Rankings for Sustainability 2024 

    08.12.2023, 11:46

    President Tokayev applauds 2.5-fold surge in healthcare funding through social health insurance 

    07.12.2023, 21:30
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024


    Beeline Uzbekistan started 2025 with a significant network modernization

     

    Recommended

    Uzbekistan’s foreign trade turnover up 19.9% y/y in 7M25, totaling $44.4bn

    21 August, 15:33

    Uzbekistan’s president announces fresh business support measures at open dialogue with entrepreneurs

    21 August, 09:05

    “Uzbekistan is a country open to the world and discovering the world for itself,” says President Mirziyoyev

    18 August, 15:48

    Uzbekistan’s bank capital jumps 20% y/y to $9.9bn as assets, loans, and deposits expand

    11 August, 13:12
     
     
     

    Latest news

    Kazakhstan bestows Order of “Altyn Kyran” on Kyrgyz President Sadyr Japarov

    Kyrgyzstan | 23 August, 15:31

    Uzbekistan sees growth in women-led enterprises, reaching 43,860

    Uzbekistan | 23 August, 13:45

    Uzbekistan, Turkmenistan, and Azerbaijan adopt joint statement, sign new cooperation agreements

    Uzbekistan | 23 August, 10:30

    Uzbekistan, Turkmenistan, and Azerbaijan strengthen cooperation on corridors, energy, and culture

    Uzbekistan | 22 August, 17:00

    Kyrgyzstan challenges Western sanctions, President Japarov appeals to Trump and Starmer

    Kyrgyzstan | 22 August, 16:39

    Uzbekistan, Turkmenistan trade tops $700mn since January as Mirziyoyev meets Berdimuhamedow

    Uzbekistan | 22 August, 14:10

    Uzbekistan sees 4% inflation in January–July 2025

    Uzbekistan | 22 August, 13:13

    Uzbekistan’s gas output drops 3.4% y/y to 25.3bn cubic meters in 7M25

    Uzbekistan | 22 August, 12:03

    Uzbekistan advances judicial reforms with new proposals approved by President Mirziyoyev

    Uzbekistan | 22 August, 10:30
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.