Assets Generating 3.4 Trillion Tenge in Revenue to Be Transferred to Competitive Market Environment

We do not include the quasi-public sector in these calculations. Kazakhstan’s sovereign government debt stands at $17 billion, or 4.5% of GDP. This is significantly lower than in neighbouring countries," Takiyev said.

We spend 3.5 trillion tenge on debt servicing. However, through diversification of our debt portfolio, we have already saved 115 billion tenge this year," he said.

These are obligations between business entities. They borrow independently and repay independently. The state has not provided guarantees for these loans," he said.

The government may provide guarantees, for example, for road rehabilitation projects. But the amount involved is only about 2 trillion tenge. We bear no responsibility for all other debts," the minister explained.

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Bilateral trade amounted to $1.9 billion in January-April, which is 42.1% higher than during the same period last year," the press service said.

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I cannot say that electricity costs have no impact; they are certainly one of the factors affecting production conditions. However, fluctuations in these prices are not critical. The key factor in production costs remains primary raw materials," the minister said.

There are consumption patterns, and seasonality also plays a role - all of these factors influence prices. Prices never remain static, but they are stable when the market is sufficiently supplied. Food inflation exists. Our task is to prevent increases in the prices of the most in-demand goods and avoid sharp spikes. Growth itself is also a law of economics," he said.

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Financing under both agreements is aimed at supporting the resilience of the country's economy within the framework of the approved republican budget deficit for the planned period. The interest rate on the loans is determined according to the formula TONA plus a variable spread. The agreements also provide for a one-time front-end fee of 0.25% of the loan amount and a commitment fee of 0.25% per annum on undisbursed balances," the Mazhilis said.

In order to ensure stable electricity supply and the systematic modernisation of the country's power generation facilities, the maximum tariffs for 60 electricity-producing organisations have been revised. The decision is aimed at creating the financial conditions necessary for the timely implementation of maintenance campaigns, as well as long-term programmes to upgrade equipment and maintain its reliability," the draft order states.