Система Orphus

Kazakhstan external debt saw a 4% decrease within the year

01.02.2019, 19:51 6931
As of the 3rd quarter of 2018, the amount of Kazakhstan gross external debt amounted to KZT161.5 billion, a 4.2% year-over-year fall. According to the analytics from Finprom.kz, this is the second decreased seen since the last five years, with the first registered in 2015 (-0.3%).
 
External debt’s ratio to the GDP was 94.0%. As of the end of the 3rd quarter of 2018, intercompany debt occupied the most part in the external debt, with a percentage point of 63.7% or US $102.8 billion, increasing by 0.9% compared to last year.
 
Public sector debt was 7.1% of the total external debt and accounted to US $11.4 billion, by US $1.8 billion less compared with 2017. It is followed by the banking sector with a share of 3.5%, a US $0.6 billion decrease (0.2%). At the end of the 3rd quarter of 2018, inter-company debt accounted for over half of external debt due to Kazakh enterprises’ obligation to foreign companies. 
 
The country owed the biggest debt to the Netherlands: US $49 billion, a 30.3% share of the country’s total debt. Great Britain was next with $ US21.4 billion owed by Kazakhstan (13.3%). The third big creditor was the USA - $ US12.3 billion (7.6%). 
 
Data for the 3rd quarter of 2018 indicate, a 4.2% year-over-year decrease in the country’s external debt was mainly due to the repayment of short-term notes by the National Bank and reduction in demand from foreign investors; repayment of credits by foreign companies, external loans by China’s governmental and financial organizations, a 1.5-billion-dollar debt repaid by National Welfare Fund Samruk Kazyna received to obtain a 5% stake in KMG Kashagan B.V. 
 
Source: BNews.kz 
 
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