(Read the full article on inbusiness.kz)

According to the president, Kazakhstan’s spending on external debt payments will grow significantly over the next 25 years, INBUSINESS.KZ reported.

The government of Kazakhstan needs to develop a concept for managing public and quasi-public debt, says Kazakh President Kassym-Zhomart Tokayev.

“In the next 25 years, an almost 6-fold increase in expenditures for fulfilling the assumed and planned obligations of the state is expected. By 2025, the share of external debt in the structure of government debt is projected to increase from 21% to 49%. At the same time, most of the external loans are denominated in foreign currency.” Tokayev said at an enlarged meeting of the government on Saturday. He stressed that the quasi-public sector also has a significant “debt burden”.